Rights of a partner

Rights of a partner:

1.right to take part in business:

The partnershipagreement usually provide the mode of the conduct of the business. Subject to any such agreement between the partners the conduct the business.

2.right to be consulted:

Every partner has an inherent right to be consulted in all matters affecting the business of the partnership and express his views before any dicision is taken by the partners.

3.right of access to accounts:

Subject to contract between the partners, every partner has a right to have access to and inspect and copy any of the books of the person.

4.right to share in profits:

In the absence of any agreement, the partners are entiteled to share equity in the profits earned and are liable acontribute by the firms.

5.right to intrest on capital:

The partnership agreement may contain a clause as to the right of the partners to claims intrest on capital at certain rate. The partners is payable only out of profits, if any, earned by the firm.

6.right to retire:

A partner has a right to retire with the consent of all the other partners. In accordance with an express agreement between the partners of his intension to retire.