Types Of Partners

X, Y, Z have mutually decided to set up small factory in rural area. They decided to hide the association of X with the factory to outsiders, and Y will not take part in day to day activities of business due to his health issues. However, Z will take active part in all activities. Whenever they have problems in getting credit or financial help they use the name of their friend 'P' with his consent. (i) Briefly explain the various types of partners, mentioned in the above paragraph.

Death Of Partner

Retirement Of A Partner

Insolvency Of A Partner

In which type of reaction does an exchange of partners take place ?

What Is Partnership?|Essential Features|Rights Of A Partner|Liabilitites Of A Partner|Questions