DEPARTMENT OF TECHNICAL EDUCATION

ANDHRA PRADESH

Name : R.Dasharatham
Designation : Lecturer
Branch : D.C.C.P.
Institute : GPW, Warangal
Year : I year
Subject : Business Organization
Subject code : CCP-104
Topic : Forms of Business Organization-Sole
Trading and Partnership
Duration : 50 mts
Sub topic : RIGHTS OF PARTNERS
Teaching Aids: :P.P.T.,

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Objectives
On the completion of this period the
Student will be able to :

 Rights of the Partners in the firm

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Rights of the Partners
 Every partner has a right to take part in the
management of the business
 Right to inspect and copy any books of
accounts of the firm
 Right to continue in the firm unless expelled
 Right to demand share of profit

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Rights of the Partners
 Right to receive interest on loan given to firm
 6% rate of interest unless stated otherwise in
deed
 Right to retire from the partnership according
to the provisions of the partnership deed
 Right to express his opinion in the
management of the firm

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Rights of the Partners
 Right to be indemnified for the expenses
incurred on behalf of the firm
 Joint owner of the property of the firm
 Right to use the property of the firm for
business purpose

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Summary:
We have discussed about:
 About various rights available to the partner in a
firm in the partnership deed

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Quiz:
1.What is the rate of interest on loans as per the
Indian Partnership Act:

a) 10%
b) 6%
c) 8%
d) 12%

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Quiz continuation…
2.Which of the following is not the right of the Partner:

a) To take part in management

b) To retire from partnership
c) To run similar business in the same town.
d) All the above.

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Frequently asked questions
1. What are the rights available to a partner in the
firm?
2. List out various rights of partners in the
partnership firm?

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