Question

is partnership is seprate legal entity..?

Answer 1

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PARTNERSHIP IS NOT A LEGAL ENTITY. ... The liability of the partnersof the firm is unlimited. The partnership firm is not a legal entity as that of a company registered under the Companies Act. A company is separate from its shareholders but not the said position in partnership firm.

Answer 2

A partnership is not a separate legal entity. Each partner is fully responsible for debts and liabilities incurred on behalf of the business by otherpartners – with or without their knowledge. Potential for disputes over profit sharing, administrative control and business direction.
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