A partnership comes into existence in the following circumstances:
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In What Circumstances Partnership Are Formed:
- Two or more persons decide to create a business ie none of them possesses an existing business
- Where one person who is already trading decides that he needs somebody to help him carry on his business and possibly who is in a position to introduce additional capital
- Where two persons each carrying on separate businesses as sole traders, decide to amalgamate their respective concerns and form a partnership.
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