(Section 1 - Partnership Act, 1980) defines partnership as “a relationship which subsists between persons carrying on a business in common with a view to making a profit”. It refers to both physical and artificial people. Thus, individuals and corporations are eligible to form a partnership. The joint venture agreement does not necessarily create a partnership. (Section 2 of the Limited Liability Companies Act 2000) defines limited liability company (LLP) as a hybrid between a partnership and a limited liability company "is a legal person (with a personality legal separate from that of his company). members) » Many provisions of the Companies Act 2006 also apply to limited liability companies. Regarding creation, the partnership must reflect three elements linked to “carrying out a business”, “jointly” and “with a view to profit”. If any of these elements are missing, the relationship is not a partnership relationship. An association of persons can be constituted by deed, in writing, verbally and finally by hypothesis of the behavior of the parties. It is a contract between two or more parties to enter into a legally binding relationship. This could be seen in the case of (Canny Gabriel Castle Jackson Advertising Pty Ltd V Volume Sales (Finance) Pty Ltd, 1974) where the court held that a partnership existed over four factors who were related parties in a business venture, with a view to profit and mutual agreement on all political matters relating to the enterprise. Partnership only exists if the business is carried on by one or more partners (not necessarily of equal interest) on behalf of all partners. All partners must have mutual rights and obligations (agency status) and have a say in the management of affairs. In (Keith Spicer Ltd v Mansell, 1970) the court ruled that Mansell was not liable for the cost of the furniture as there was no evidence to suggest the existence of a partnership as they had not carried on a business jointly with a view to profit.Partnership business must be carried on jointly between the partners or on behalf of the partners, even if the person managing the business is not important. As was the case in the Checker Taxicab Co. Ltd. case. v Stone (1930) NZLR169, where both parties were found to be carrying on a business. Each party appears to have benefited from the other's operation of a business. However, they were not operating a joint business. The two companies were actually separate. Section 2(3) of the 1980 Act provides that sharing of profits constitutes prima facie evidence of the existence of a partnership..