Farmers shaking hands in a field in front of a tractor© Rex Shutterstock
Becoming or taking on a partner is something to be considered very carefully. An underlying principle of partnership law is that the partners should have utmost trust and confidence in each other. There is an important reason behind this. In a traditional partnership, each partner has unlimited liability for partnership debts. This is not to be taken lightly, particularly as each partner has full authority to the outside world to incur liabilities and enter into agreements in the name of […]