Question

each partner is an agent of other partner--- explain this statement ​

Answer 1

Explanation:

related to partnership

• partnership is the form of business where two or more joined together to run a business ,share future profits and losses together
• there is a mutual trust among all ...as no one can great in all tasks / work ... so all partner bond to other partner so they are also called as agent of other partner...
• I try To u give u nice answer .. hope u get the answer!!

Answer 2

Answer:

Answer:

The risks of 'unlimited liability' and 'uncertain life' are inherent to the business form of sole proprietorship. Since the proprietor is the only person responsible for all transactions and deals of the organisation, it is impossible for him to overcome the risk of having an unlimited liability for his actions and, the life of his business being directly affected by his death, insanity, bankruptcy etc. If the proprietor intends to avoid the risks of 'unlimited liability' and 'uncertain life' then he would have to change his business form to company, partnership or any other form of business which are suitable for him.