Liability of Partners in Partnership Firm vs Liability of Individuals in a Company

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Added on 2022/12/15

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This article discusses the difference in liability of partners in a partnership firm compared to individuals in a company when entering into contracts with outside parties. It explores the joint and several liability of partners in a partnership, the right of creditors to sue partners individually, and the personal liability of partners for the actions of other partners. It also highlights the limited liability of individuals in a company and the transparency of contracts in a company.

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Liability of Partners in Partnership Firm vs Liability of Individuals in a Company

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