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In partnership what does it mean by unlimited liability?
Most Upvoted Answer
In partnership what does it mean by unlimited liability?
In partnership, unlimited liability is when the company goes on a loss or wind-up on a loss status and they are to pay their creditors .So their properties will be sold unlimitedly
Community Answer
In partnership what does it mean by unlimited liability?
In a partnership the unlimited liability means the all partners have individually liable for all his debts another word the unlimited liability means whenever business in goes in loss making or ended the person have to sell his personal property for pay his all debts
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In partnership what does it mean by unlimited liability?
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In partnership what does it mean by unlimited liability? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about In partnership what does it mean by unlimited liability? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In partnership what does it mean by unlimited liability?.
In partnership what does it mean by unlimited liability? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about In partnership what does it mean by unlimited liability? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In partnership what does it mean by unlimited liability?.
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