Article 7 - Meaning of Partnership Agreement and Partnership
Partnership Agreement is an agreement between two or more persons for
carrying on a Business together with the object of making a profit.
(2) For the purposes of these
Regulations, " Partnership" is the relation which
subsists between persons (each a " Partner") carrying on a Business together
under a Partnership Agreement.
(3) For the purposes of these
Regulations, persons who have entered into
Partnership with one another are called collectively "a Partnership".
(4) In these
Regulations " Business" includes every trade, profession and