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Law Dictionary Home Dictionary Definition co-ownership-and-partnership

Co-ownership and partnership, the main differ-ences between co-ownership and co-partnership is that co-ownership is not necessarily the result of agreement, whereas partnership is. The second difference is that co-ownership does not necessarily involve community of profit or of loss, but partnership does. A third difference is that one co-owner can without the consent of the other, transfer his interest etc., to a stranger. A partner cannot do this, Champaran Care Concern v. State of Bihar, AIR 1963 SC 1737 (1741). (Partnership Act, 1932, s. 4)

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