“What’s the Difference Between a Partnership and a Limited Liability Partnership (LLP) in India?” – Choosing the Right Business Structure for You! 🤔📊 Ah, the million-dollar question! 💰 "Should I start a business as a partnership or go the LLP route in India? What’s the difference, and which one’s better for my startup?" Don’t worry, we’ve got you covered! Let's break it down in simple terms. #PartnershipVsLLP #StartupIndia #BusinessStructureIndia #LLPIndia #LegalAdvice ✅ Partnership – Simple, but with Personal Risk ⚖️ A Partnership is a business structure where two or more people (partners) agree to run a business together, sharing profits and losses. 🔑 Key Features : ✔️ Personal liability : Partners are personally liable for the debts of the business. If the business fails, your personal assets (house, car, etc.) can be used to pay off debts. 😳 ✔️ No formal registration : Unlike an LLP, a partnership can be formed without registering it (though it’s go...
Is an Unregistered Rent Agreement Legally Valid in India? 🏠✍️ Client’s Question: "I’ve rented a flat in Delhi through a mutual agreement, but it’s not registered. Is that still legally enforceable?" 🤨📄🏢 Answer: It depends — but there’s a twist! 🌀 While unregistered rent agreements under 11 months are considered valid and enforceable under Indian law, anything beyond 12 months MUST be registered to be legally recognised in court! 📅⚖️ #RentAgreementIndia #UnregisteredLease #RentalLawIndia #TenantRights #LexisAndCompany 📌 Legal Breakdown: ✅ Rent Agreement ≤ 11 Months No need for registration. This type of agreement is legally accepted and used widely for residential purposes. ❌ Rent Agreement > 11 Months MUST be registered under the Registration Act, 1908 . Otherwise, it’s not admissible as evidence in court during disputes. #RentalAgreementRules #RealEstateLawIndia #LeaseLawIndia #LegalLeaseTips ⚠️ Risks of an Unregistered Agreement: 🔹 Evictio...