BBA LL.B. — Five-Year Integrated Academic Support

Welcome to BBA LL.B. — Five-Year Integrated Academic Support. We will study Forms of Business Organisation: Sole Proprietorship, Partnership, LLP and Company, work through an example, and practise using the course's learning material. 5 years · 10 semesters · integrated law. Year-wise / professional-phase study plans, original foundation workshops, answered practice and available protected LMS readings. Five-year integrated law follows the eligible 10+2 route. Sign in and use the study header to open your authorised course. Select this published lesson. Start Course Tutor with Auto audio on: it teaches continuously, answers a typed question, then resumes. Section 4 of the Indian Partnership Act, 1932 defines partnership as 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. The persons are partners and collectively a firm. Client brief. Three friends, an architect, an engineer and a marketing graduate, plan to start a design consultancy. They want to share decisions, protect personal assets from professional claims made against one of them, avoid heavy compliance and possibly bring in investors later. Step 1: eliminate sole proprietorship. There are three owners; a proprietorship has only one. Step 2: test a partnership firm. Easy to form, but each partner has unlimited joint and several liability (section 25). If the engineer's design causes a claim, the architect's personal assets are exposed. Protection of personal assets fails. Step 3: test an LLP. Separate legal entity, perpetual succession, liability of each partner protected from another partner's wrongful act (section 28), and management by LLP agreement. Compliance is lighter than a company. Investor entry is possible by admitting partners, but equity investors often prefer shares. Step 4: test a private company. Separate personality and limited liability, and easy to issue shares to investors later. Compliance (board meetings, statutory registers, audits) is heavier. Step 5: advise. An LLP suits the present priorities (shared control, protection from each other's professional wrongs, lighter compliance). If significant equity investment becomes likely, they could later convert to a private company. The advice should also note that each professional remains liable for his or her own wrongful acts, and professional indemnity insurance is worth considering. Second problem (section 69). An unregistered partnership firm sues a customer to recover an unpaid invoice. The customer objects under section 69(2). The suit is not maintainable until the firm is registered and the suing partners appear in the register. The firm should register and file afresh within limitation. Which mistake would change the reasoning in this example? Calling a partnership firm a legal person. Correction: a firm has no separate personality; an LLP and a company do. Treating profit-sharing as conclusive proof of partnership. Correction: section 6 makes mutual agency the real test. Saying LLP partners have no personal liability at all. Ask Course Tutor: please explain this step from the example. Step 3: test an LLP. Why does it follow? Add what you tried, so the explanation addresses your difficulty. Now try the source practice. What is the true test of a partnership under the Indian Partnership Act, 1932? Pause before the answer. The source answer is: Mutual agency: whether the business is carried on by all or any of the partners acting for all. Compare your reasoning as well as the result. If your response differs, return to the worked example and identify the step that needs correction. Explain the key idea in your own words, revisit any mistaken step, then continue to the next lesson. Use Stop to end Course Tutor when you finish.