ExpertEasy1 markMultiple Choice
ACCA · Question 32 · Corporate and Business Law
What formality is legally required to form an ordinary partnership under the Partnership Act 1890?
What formality is legally required to form an ordinary partnership under the Partnership Act 1890?
Answer options:
A.
Registration with Companies House.
B.
A written partnership agreement.
C.
No formalities are required.
D.
A minimum capital contribution of £1,000.
How to approach this question
Recall the definition of a partnership under the 1890 Act.
Full Answer
C.No formalities are required.✓ Correct
An ordinary partnership is defined as 'the relation which subsists between persons carrying on a business in common with a view of profit'. No written agreement or registration is legally required.
Common mistakes
Assuming a written deed is mandatory.
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