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Crossword Puzzle
Crossword Puzzle

Partnership Types: Duration & Liability

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Partnership Types: Duration & Liability

Crossword Puzzle

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About this activity

Eight terms on duration and liability

Created by

Nazima Ilyas Memon
Nazima Ilyas Memon
United Arab Emirates

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Partnership Types: Duration & Liability
 

Crossword Puzzle

Partnership Types: Duration & LiabilityOnline version

Eight terms on duration and liability

by Nazima Ilyas Memon
1

The business continues even after the death of the karta as the next eldest member takes up the position of karta,

2

the liability of partners is unlimited and joint

3

Partner ship formed for the accomplishment of a particular project

4

The risk of failure of business is borne all alone by the sole proprietor.

5

One or more partners have unlimited liability; others are liable only to contributed capital.

6

The business is controlled by the head of the family who is the eldest member and is called karta

7

Partners must personally cover all debts beyond the partnership assets.

8

partner is one who allows the use of his/her name by a firm,

9

Registration of such partnership is compulsory

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