explain features of firms .......in breifs .....
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Features of Partnership Firm – Number of Members, Existence of Business, Contractual Relationship, Legal Business, Agency Relationship, Unlimited Liability and a Few Others. 1. Number of Members / Two or More Persons: ... A banking firm can have maximum ten partners where as other firms can have maximum twenty partners.
Main Features:
Artificial Legal Person: A company is an artificial person created by law. ...
Separate Legal Entity: A company has a distinct entity separate from its members or shareholders. ...
Common Seal: ...
Perpetual Existence: ...
Limited Liability: ...
Transferability of Shares: ...
Separation of Ownership from Management: ...
Number of Members:
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