In: Human Resource Management What are the rights and duties of partners in partnership? What are the rights and duties of partners in partnership? 1 Answer Aftab 75 Questions 12 Answers 0 Best Answers 22 Points View Profile Aftab Added an answer on April 27, 2020 at 9:02 pm Rights of partners in partnership 1.Rights to take part in the conduct and management of business. 2. Right to be consulted and heard in all maters affecting the business of the partnership. Right of free access to all records, books and accounts of the business, and also to examine and copy them. Right of share in profits equally, in absence of any agreement. Partner is entitled to be indemnified by firm for all the act done by him in course of the partnership business, for all payments of made by him in respect of partnership debts or liabilities and for expenses and disbursements made by him in an emergency for protecting the firm from the loss. Every partner is a joint owner of the partnership property. He is entitled to have the partnership property used exclusively for the purposes of the partnership. Duties of partners in partnership Every partner is bound to diligently carry on the business of the firm to the greatest common advantage. A partner is bound to keep and render true, proper and correct accounts of the partnership. A partner is bound to indemnify the firm for any loss caused by his willful neglect or fraud in the conduct of the business. A partner must not carry on a competing business, nor use the property of the firm for his private purposes. Every partner is bound to share the losses equally with the others. A partner is bound to act within the scope of his authority. 0 Reply Share Share Share on WhatsApp Share on Facebook Share on Twitter Share on LinkedIn Sorry, you do not have a permission to answer to this question.