Partnership Vs. Club
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Basis
of Difference
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Partnership
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Club
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Definition
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It is an association of persons
formed for earning profits from a
business carried on by all or any one of them acting for all.
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A club is an
association of persons formed with the object not of earning profit, but
of promoting some
beneficial purposes such as improvement of health or providing
recreation for the members, etc.
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Relationship
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Persons forming a partnership
are called partners and a partner is an agent for other partners.
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Persons forming a club are
called members. A member of a club is not the agent of other members.
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Interest in the property
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Partner has interest in the property of the firm.
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A member of a club has no interest
in the property of the club.
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Dissolution
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A change in the partners of the firm auect its
existence.
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A change in the membership of a
club does not auect its existence.
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