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The exercise of determining whether the entity is a partnership or a joint venture has to be based on the terms and conditions in the contract and appreciation of evidence – Jagatheesh Vs. Chandrasekharapillai and Ors. – Madras High Court

Hon’ble Madras High Court held that the crucial distinction between the two therefore appears to be that in a partnership, one is the agent of the other. In other words, every partner is both an agent and principal. This means that each partner can act on behalf of the partnership (as an agent) and also be bound by the actions of other partners(as a principal). This is referred to as “Mutual Agency”. This is not so in the case of joint venture.

The exercise of determining whether the entity is a partnership or a joint venture has to be based on the terms and conditions in the contract and appreciation of evidence – Jagatheesh Vs. Chandrasekharapillai and Ors. – Madras High Court Read Post »

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