00:01
Okay, so we are basically going to be looking at two friends here, who want to partner in business.
00:09
Okay, so we're basically going to be looking at the concept of partnership.
00:14
We would understand that a partnership is basically contract, and there are elements that make a contract valid, or just mention them quickly.
00:27
So a contract has to, there has to be consensus, there has to be consensus for it to be valid, and there has to be a capacity to enter into the contract.
00:42
And obviously these need for legality.
00:47
The aspects of business should be within the law framework of the laws of the country.
00:53
And there has to be a degree of formality, and establishing the contract and the...
01:03
Performance should be possible.
01:06
Okay, so basically to our client the validity of a contract, it's now important to understand that the two friends would, the two friends would come together to establish a contract, therefore, for a partnership...