The creation of partnerships and transfers of partners' interests give rise to special problems where families are involved. The main reasons are:
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(a)ÌýÌýÌýÌý There is more likely to be an element of bounty in the arrangements than is the case where the family relationship does not exist.
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(b)ÌýÌýÌýÌý Where husbands and wives are involved the related property rules distort the real rights of the individuals for valuation purposes.
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(c)ÌýÌýÌýÌý The exemption of gifts between spouses can give rise to valuation problems where third parties are involved.
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(d)ÌýÌýÌýÌý Failure to observe normal commercial practices because of the family relationships (for example non-payment
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