Justice P.S.Narayana's THE LAW OF PARTNERSHIP (Along with THE LIMITED LIABILITY PARTNERSHIP ACT 2008) / A detailed Text

This hardbound volume is a detailed text on THE LAW OF PARTNERSHIP. Along with this THE LIMITED LIABILITY PARTNERSHIP ACT 2008 is also discussed.

Hon'ble Mr. Justice P.S.Narayana has taken every effort to present this book more informative to the Legal fraternity, Chartered Accountants and Auditors, Law Students etc. As ususal he has cited many case laws.

When two or more people agrees to share losses and profits in Partnership firm is Partnership .In partnership, all the partners not have equal in profits and losses. There are different types of partnership according to the extent of their liability and their participation in the firm.  In a general partnership, each partner has unlimited personal liability. Partnership rules usually dictate that whatever debts are incurred by the business, it is the legal responsibility of all partners to pay them off.

The term Limited Liability is a legal phenomenon, under which the losses that owners (shareholders) of a business firm may incur are limited to the amount of capital invested by them in the business and do not extend to their personal assets.

Useful Book