The common law is the primary source of partnership regulations in South Africa because a partnership is not universally recognized as a separate legal entity apart from the partners.
A partnership is a business structure whereby two or more partners combine their human and material resources to form an entity.
Partners usually sign a partnership agreement to share risks, profits, and losses. The partnership agreement remains the legal document that establishes a partnership. Where it is not existing, disputes among the partners can be settled using the general partnership agreements.
Examples of common partnerships include:
Thus, there are no existing partnership laws in South Africa, and partnerships are generally not distinct from their partners, legally speaking.
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