Excerpt from A Manual of Partnership Relations: Treating of the Nature, Formation, Operation and Dissolution of the Partnership, With the Forms Used Therein, and a Comparative Consideration of the Partnership and the Corporation While the corporation is the approved form of modern business organization, the great majority of business enterprises are still conducted as partnerships. For this reason no apology is needed for the presentation of a compact and practical work on partnership relations. In the present volume are considered the nature of the partnership, the method by which it is entered into, the manner of its operation and the details of its dissolution; also the relative merits of the partnership and the corporation, and the practical considerations and procedure involved in changing from one to the other. The various forms incident to the organization, operation and dissolution of the partnership are also given. These are mainly from existing instruments and may be followed with confidence. In the preparation of this work the fact has been constantly kept in view that difficulties may be best avoided by a clear comprehension of those particular points in connection with which they are most liable to arise. The usual incidents and possible dangers of the partnership relation, as well as the powers, duties and liabilities of the partners are therefore treated with special care. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.