Question

In: Economics

A disadvantage of a partnership is that any one partner can act on behalf of the...

A disadvantage of a partnership is that any one partner can act on behalf of the partnership in legal and financial dealings and the other partners will also be held responsible.

True

False

A limited liability company automatically continues in the event of the death of a member.

True

False

Solutions

Expert Solution

1) Sol: True

In partnership firm both partners have same responsibility.

2) Sol: True

A limited liability company is not automatically dissolve with the death of one of its members unless specific law designate this should happen.

Rahul Sunny answered 2 years ago
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