(1) Any business registered in a record of the Government of Nepal by the persons who have agreed to share the profit of  the business carried on by them in a single name under an agreement (Kabuliat) made with each other which entitles all partners to take part in all business for each partner or entitles any of them for the same on behalf
of all others.
(2) Persons who have entered into an agreement of partnership shall be called “partners” in relation to each partner and shall be called “firm” in a collective form and the name under which their business in carried on is
called the “name of firm”.
(3) No partnership firm shall be a person except partners.