Question

What are the pros and cons of a partnership deed?

Answer 1

Advantages and Disadvantages of a Partnership Firm

Advantages.

Simple to Start.

Dynamic.

Raising of Funds.

Feeling of Ownership.

Disadvantages.

Limitless Liability.

A number of Members.

Absence of a Central Figure.

Trust of the General Public.

Sudden Dissolution.

Also see:

• Nature of Partnership
• Partnership Deed
• Difference Between Partnership Firm and Company
• MCQs on Partnership Deed

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