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Partnerships are incorporated associations. In Kenya all partnership are formed in accordance
with partnership act (Cap 29). Section 3(1) of this act defines partnership as the relationship
which subsists between in common with a view of profit. In a partnership business, two or more
persons jointly run a business. The liability of the individual partner is unlimited unless the
partnership agreement provides for any limitation. A partnership consists of not more than twenty
persons except in certain cases e.g. practicing solicitors, professions accountant and members of
the stock exchange where this figure may be exceeded. Normally, the number of partners in a
partnership business varies from two to five. In the case of banking business, the number of
partners is limited to ten.
sharon kalunda answered the question on April 12, 2019 at 11:54
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