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प्रश्न
In which form of organisation is a trade agreement made by one owner binding on the others? Give reasons to support your answer.
उत्तर
It is under partnership that the trade agreement made by one owner becomes binding for others. This is because every partner acts for each other. In other words, every partner is both a principle as well as an agent. As an agent he binds others through his actions and as a principle he is bind by the action of others.
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संबंधित प्रश्न
Indian Partnership Act was passed in the year...............................
In partnership the liability of partners of a firm is unlimited.
Write a word or a phrase or a term which can substitute the following.
A partner who gives his name to a partnership firm.
Long answer type question.
Define Joint Stock Company and explain its features.
Write the word. or phrase or tenn which can substitute the following statement~:
The senior most family member of a Joint· Hindu family firm.
Features of Joint Stock Company?
Define Partnership Firm and explain its features
State with reasons whether the following statement true or false.
In a partnership the liability of every partner of a firm is unlimited.
State Whether the Following Statement Are True Or False (Give Reason).
A partnership agreement cen be verbal or written.
State Whether the Following Statement Are True Or False (Give Reason)
The liability of partners is limited.
Why is partnership considered by some to be a relatively unpopular form of business ownership?
Explain the merits of partnership.
Explain the limitations of partnership.
The Partnership Act limits the maximum number of partners in a non-banking partnership firm to ______.
