Partnership and Its Types Essay Example for Free

Partnership and Its Types Essay A partnership arises whenever two or more people co-own a business, and share in the profits and losses of the business. Each person contributes something to the business such as ideas, money, or property though management rights and personal liability will vary. In Pakistan the partnership firms are registered under the partnership act 1932 which defines the partnership as â€Å"The relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all† There should be at least two or maximum twenty partners in a firm with the exception of banking where maximum of ten partners could make the partnership A partnership may be registered with the Registrar of Firms of an area where the office of the firm is situated or proposed to be situated. A statement in prescribed form must be delivered to the relevant Registrar stating: †¢Firm name †¢Place or principal place of business of the firm †¢Names of any other places where the firm carries on business †¢Date when each partner joined the firm †¢Names in full and permanent addresses of the partners †¢Duration of the firm †¢Foretasted statement signed and verified by each partner Types of partners Active or working partner: Such a partner contributes capital and also takes active part in the management of the firm. He bears an unlimited liability for the firms debts. He is known to outsiders. He shares profits of the firm. He is a full-fledged partner. 2. Sleeping or dormant partner: A sleeping or inactive partner simply contributes capital. He does not take active part in the management of the firm. He shares in the profits or losses of the firm. His liability for the firms debts is unlimited. He is not known to the outside world. 3. Secret partner: This type of partner contributes capital and takes active part in the management of the firms business. He shares in the profits and losses of firm and his liability is unlimited. However, his connection with the firm is not known to the outside world. 4. Limited partner: The liability of such a partner is limited to the extent of his share in the capital and profits of the firm. He is not entitled to take active part in the management of the firms business. The firm is not dissolved in the event of his death, lunacy or bankruptcy. 5. Partner in profits only: He shares in the profits of the firm but not in the losses. But his liability for the firms debts is unlimited. He is not allowed to take part in the management of the firm. Such a partner is associated for his money and goodwill. 6. Nominal: Such a partner neither contributes capital nor takes part in the management of business. He does not share in the profits or losses of the firm. He only lends his name and reputation for the benefit of the firm. He represents himself or knowingly allows himself to be represented as a partner. He becomes liable to outsiders for the debts of the firm. A nominal partner can be of two types: 7. Minor as a partner: A minor is a person who has not completed 18 years of age. A minor cannot become a partner because he is not qualified to enter into a contract. But he may be admitted to the benefits of partnership with the mutual consent of all the partners. On being so admitted, a minor becomes entitled to a share in the profits of the firm. He can inspect and copy the books of account of the firm but he cannot take active part in the firms management. His liability is limited to the extent of his share in the capital and profits of the firm. He cannot file a suit against the firm or its partners to get his share except when he wants to disassociate himself from the firm. After becoming a major, the minor must give a public notice within six months if e wants to break off his connections with the partnership firm. If he does not give such a notice within six months or if he decides to remain in the firm, he becomes liable to an unlimited extent for the debts of the firm from the date he was admitted to the benefits of partnership. He also becomes entitled to take active part in the management of the firms business. 8. Sub partner: He is a third person with whom a partner agrees to share his profits desired from the firm. He does not take part in the management of the firm. He is not liable for the firms debts.

Free Awakening Essays: Kate Chopin :: Chopin Awakening Essays

The Awakening: Kate Chopin Kate Chopin was an American author who lived during the nineteenth century, but because of The Awakening, a novel which was considered scandalous at the time, she has just recently been "†¦accepted into the canon of major American writers"(Trosky 105). Through Kate Chopin’s main character of The Awakening, Edna Pontellier, she is able to portray her feelings and desires that were otherwise suppressed by the ideals of American society at that time. Kate Chopin was born on February 8, 1851 in St. Louis, Missouri. She was brought up in a family that was a member of the prominent French- Creole community. During her childhood she possessed a love for reading. Her favorite types of literature were fairy tales, poetry and novels. She secluded herself for almost two years, away from her family and school in her attic, spending the majority of her time reading (Trosky 102). After her schooling, Chopin spent her days as a belle in St. Louis’ high society. She was greatly ad mired for both her beauty and wit. She continued her readings, becoming more interested in contemporary works. In 1869, she traveled to New Orleans where she met Oscar Chopin, whom she married. Though married, Chopin remained fairly independent, practicing habits such as smoking and walking alone in the city, two things unheard of from women at that time.(Trosky 102) In 1883, Oscar Chopin died of swamp fever. By 1884, Kate moved with her six children back to St. Louis. Around this time, Chopin began her writing career, writing in periodicals and publishing collections of short stories. She received good reviews and continued to write at an impressive rate. Her acclaim was short lived though, following the publication of The Awakening. "This work, which would eventually be recognized as her masterpiece and a seminal work in American feminist fiction, first proved her most notorious publication and her literary undoing."(Trosky 103) At the time, Chopin’s novel was considered sc andalous and immoral, for it dealt largely with a women’s sexuality. At the time The Awakening was written, a novel would be judged on it’s moral message as much as its artistic merits. After the negative response of critics, Chopin published a few more works, but nothing was well received. She received little recognition, which when given, described her as an author of southern local color stories (Trosky 103). Local color writing was a movement which tried to capture the feeling of a particular region through descriptions of local speech and manners("The Age of Realism").

Example of a Debate Speech

Thank you Madam Speaker. A very good morning I would like to wish to the honourable adjudicators, precise timekeepers, fellow members of the government, members of the opposition and members of the floor. We are gathered here today to debate on a very important motion that is THBT physically challenged people should not be seperated in schools. And, we, the government strongly back this motion. To address this motion, please allow me to start off by specifying my role and the role of my fellow members of the government.I, as the Prime Minister, have the main task in hand in which I have to state the motion, which I have already done earlier. Next, I will highlight some of the keywords and define the motion of today’s debate. Following this, I will present the first point of the government in order to support our stand. The role of my deputy here is to rebut the points given by the opposition leader and he will go on to present two additional new points that will further suppor t the government’s stand.Finally, the third speaker of the government has the task as the whip of the government to rebut all the points given and put forward by the opposition. Now, ladies and gentlemen, allow me to point out some keywords that we the government, find to of the government, in order to support our stand. The government defines ‘physically challenged’ as any form of impairment that limits the mobility and function of the body. we also define ‘people’ as students, staff and teachers in a school. e also define ‘school’ as an institution for educating students. we the government, agree that physically challenged people should not be seperated in schools on the grounds that it isn’t up to us to deny their rights to mainstream education to be part of the school community. ladies and gentlemen, allow me to move on to the governments first point of the day. that is physically challenged people can be part of the society b y having self motivation. y sharing the same school at their young ages, physically challenged people have the chance to build their self motivation. everyone has their own aspiration and ambitions that serve to define themselves in their lives. self motivation comes from within the person. being able to compete with more physically able students personally makes a physically challenged student to get rid of his/her prejudice of him/herself(lack of physical abilities makes him/her unable to compete mentally with normal students), thus motivating and purring the individual to move forward. put it at a way that you were able to beat one of your classmates that is more â€Å"complete† than you, how would that make you feel? of course, it makes you feel better of yourself. proving that nothing is impossible for you to do. for example, muhammad rosli and ahmad of sekolah kebangsaan seksyen 27 in shah alam were born as conjoined twins and now succesfully seperated following an oper ation in saudi arabia in 2002. venthough they were not like normal students, they still manage to get good results in their upsr which was 4a’s and 1b in 2011 and are still educated in a normal school. this relates back to being part of the society by having the attention of being able to do something you’re more capable of. just imagine, ladies and gentlemen if they did not share the same school with normal people at their young ages, they probally would not get the self motivation needed for their future adulthoods being in the society itself. great statistics to prove this is that, the national resources centre on learning disablity found that graduation rates of all students with disabilties in the u. s increased to 14% from 1984 to 1997. this report differentiate between students enrolled in mainstreaming inclusive or segregated programs for teachers, they are not supose to be seperated too. the qualification of one being a teacher is already tested before they be came teacher. bypassing the test this proves that they have the skills and capability of being a teacher, and why be seperated?. or example, stephen william hawkings, he cant move his whole body, but he still is an inspiriation to all in the field astronomy and lectures people. you need to accept who you are, accept everything about yourself. you are who you are, that’s your beginning and that’s your end. by sharing the same school with normal students, the physical challenged also can have the oppurtunity to learn or at least adapt other alternatives to provide them access to normal education. it doesn’t mean that if a person has a limitation to do something, that person can’t do it at all. et’s put it in a simpler way, if a person is neither deaf nor blind but can not walk, does it mean you cant learn like normal students? for example, nick vujicic is a man without limbs, who only has a foot with two toes, he went to an ordinary school and now he is a succesful motivator. at his early ages he had problems but overcame it by realizing that he was not alone in his struggles and began to embrace his disabilty. he learned to write using two toes on his left foot with a special grip that slid into his big toe. e learned to use a computer and type using the â€Å"heel and toe† method. he learned to throw tennis balls, play drum pedals, get himself a glass of water, comb his hair, brush his teeth, answer the phone and even shave. this shows that even a person without any limbs can adapt other alternatives to do normal things like normal people do. adapting other alternatives is a true skill. physically disable students adapt these alternatives, by mingling with the other students since their childhood. ure, you might think that things will be more complicated and difficult for the challenged people who are in mainstream schools compared to special schools, but if things were too easy for them at the beginning, would they ma nage to handle what they will face in the future? before i take my seat, i would like to reaffirm our stand that is we the government, agree that physically challenged people should not be seperated in schools on the grounds that it isn’t up to us to deny their rights to mainstream education to be part of the school community. With that i rest my case.

Interview Methods - 1551 Words

Running Head: INTERVIEW METHODS Interview Methods Introduction In order to attempt this final paper assignment, I interviewed my uncle who has come from Dubai on his vacations. He is a civil structural designer and was working in Saudi Arabia since last five years; he has recently switched his job and moved to United Arab Emirates. Looking at his recent activity, I decided to conduct an interview with him regarding his job switching. I requested him to take out some time from his busy schedule; surprisingly he happily agreed along with giving the permission to record the interview. In the following paragraphs, I will discuss in detail how I used the Interviewing methods in the interview session and how was my experience of conducting this first interview of my life. Attending Behavior Attending behavior is very important for conducting an effective interview. Attending behavior simply means to communicate to the interviewer that you are actively listening to him and understanding his point of view. Attending behavior gives a feeling to the interviewee that the person-taking interview is with him and giving proper attention to him by doing effective listening. Furthermore, attending behavior also encourages talking and motivates interviewee to do an open and free conversation. There are several ways, through which interviewer can express his actively listening attitude. I carefully read all these notes before interview so I was able to have an attending behaviorShow MoreRelatedUsing Structured Interview Method For Future Selection1142 Words   |  5 Pagesrecommend that this company should use the structured interview method for future selection because the method has the highest utility compare with the other two selection methods. 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