Registration of partnership firms is not compulsory but beneficial. Do you agree? Give three reasons in support of your answer.
Registration of partnership firms is not compulsory but beneficial. Do you agree? Give three reasons in support of your answer.
However the enrollment or registration of a partnership or an association firm isn’t necessary, its obliviousness or non-enlistment will prompt the accompanying results:
(I) An unregistered partnership firm’s partner can’t file a complaint or sue against the firm or different partners.
(ii) The partnership firm can’t record a suit against outsiders or third parties.
(iii) The partnership firm can’t record a complaint or sue against the other partners.
Taking into account these results, it is fitting to record the firm to get itself enlisted. Registration of association firm means the entering of the organisations’ name, alongside the applicable endorsed specifics, in the register of the firm, kept with the Registrar of the Firms.
This gives decisive evidence of the presence of the firm according to the law, which along these lines, gives it advantages of reasonable dealings between every one of the parties in question.
However the enrollment or registration of a partnership or an association firm isn’t necessary, its obliviousness or non-enlistment will prompt the accompanying results:
(I) An unregistered partnership firm’s partner can’t file a complaint or sue against the firm or different partners.
(ii) The partnership firm can’t record a suit against outsiders or third parties.
(iii) The partnership firm can’t record a complaint or sue against the other partners.
Taking into account these results, it is fitting to record the firm to get itself enlisted. Registration of association firm means the entering of the organisations’ name, alongside the applicable endorsed specifics, in the register of the firm, kept with the Registrar of the Firms.
This gives decisive evidence of the presence of the firm according to the law, which along these lines, gives it advantages of reasonable dealings between every one of the parties in question.
