Local Government in Ancient India c9.99

c9.99

The duties of the partners or members of a guild are detailed. According to Vyāsa (quoted in the *Smṛti-Candrikā*), they must not cheat one another in any way; should buy or sell various commodities according to the prices; and should pay tolls or octroi duties on the goods as being due to the king, without concealing their quantity or character for purposes of evasion which, if detected beyond the limits of the toll gate, will render the partners liable to pay a fine of double duties. According to Nārada (III. 4), the partners must pay all the legitimate expenses of the business such as those connected with the following items; (1) purchase and sale of merchandise, (2) provision for necessary travelling, (3) wages of labourers employed, (4) realization of dues, (5) freight, and (6) care of the treasures (see the comments of the *Vivādaratnākara*). Sometimes *one* partner may be appointed as the managing director of the business to do the work of *all* (*Smṛti-Candrikā* explaining Bṛhaspati, XIV. 5). Kauṭilya (VIII. iv) mentions trading partners combining to control prices of their goods.