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Introduction to Partnership

Every partner...

Question

Every partner is personally liable for the debts of the firm, whereas in an HUF, only ____ is personally liable.

A

Male member

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B

Karta

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C

Major male member

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D

Minor male member

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Solution

The correct option is C Karta
In a partnership, the liability of all the partners is unlimited. Every partner is jointly and severally liable to third parties for the full debts of the firm. Whereas in case of HUF, liability of each member, except the Karta, is limited to the extent of his share in the property of the family.

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