Question:

Which of the following is NOT the characteristic of partnership?

Show Hint

Remember, partnerships do not have the legal status of an "artificial person." They are not separate from the partners themselves.

Updated On: Apr 29, 2025

Mutual Agency
Profit Sharing
Artificial Person
Unlimited Liability

Hide Solution

Verified By Collegedunia

The Correct Option is C

Solution and Explanation

Partnerships do not have the characteristic of being an "artificial person" as they are not separate legal entities. Mutual agency, profit sharing, and unlimited liability are characteristics of partnerships.

Was this answer helpful?

Top Questions on Business Law

The provisions concerning the company auditor are contained in sections 224 to 233B of the Companies Act. Match List-I (Section) with List-II (Dealing with matters):

List-I: Sections	List-II: Matters
(A) Sec. 227	(I) Right of auditor to attend general meetings
(B) Sec. 226	(II) Reading and inspection of auditor’s report
(C) Sec. 231	(III) Qualifications and disqualifications of auditors
(D) Sec. 230	(IV) Powers and duties of auditors

View Solution

View More Questions

Questions Asked in CUET exam

View More Questions