Practicing Success
Practicing Success
CUET Preparation Today
| Which one is not the feature of partnership? |
Agreement Sharing of profit Limited Liability Two or more persons |
| Limited Liability |
| Each partner is liable jointly with all the other partners and also severally to the third party for all the acts of the firm done while he is a partner. Not only that the liability of a partner for acts of the firm is also unlimited. This implies that his private assets can also be used for paying off the firm’s debts. |
