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What Is a Quasi Partnership?

Answer

Quasi partnerships are in effect, small partnerships of a limited number of individuals which, although operating as a limited company. They are practically run as partnership between those individuals and such businesses were originally run as a partnership and later incorporated to a limited company. The term quasi' means almost thereby making a quasi partnership almost a partnership but without any contract agreement between the parties.
Q&A Related to "What Is a Quasi Partnership"
A limited partnership is a business between two parties in which one party has a smaller portion of responsibility, or liability. The other party has more control over the business.
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A quasi-contract contract exists when one party has conferred a benefit on another; the party who conferred had reasonable expectation of getting paid; the party did not act as a
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pref. To some degree; in some manner: quasi-stellar object. [Latin quasi, as if. See quasi.]
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First, two brief definitions to help us understand. QUASI. : Resembling. SEMI: Half. A Quasi Semi House is a British term for a Duplex. Literally, "Resembling Half a House"
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