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Hi Mike!
Could you explain the ideas of a quasi partnership?
I do have watched your lectures but still has some confusion about.
You’ve said ” a company which is really a partnership”.
At the end is it a partnership or company?It’s a company but it is run as a partnership. It has all the characteristics of a company (registration, certificate of incorporation, directors, registered office …..) but, in reality, it’s just a partnership that has been registered as a company, probably for tax reasons (or maybe limitation of liability reasons)
But it’s run still as though it were a partnership.
It’s one of those (thankfully very rare) instances where the Court is reluctantly willing to lift the veil of incorporation
OK?
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