In which of the following business associations is the liability of its members joint and several ?
In a partnership, partners are jointly and severally liable for acts of the firm done while they are partners. Section 25 of the Indian Partnership Act, 1932 permits…
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In which of the following business associations is the liability of its members joint and several ?
Answer and explanation
Correct answer B
In a partnership, partners are jointly and severally liable for acts of the firm done while they are partners. Section 25 of the Indian Partnership Act, 1932 permits liability to be enforced against partners together or individually.
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