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Mr. Singh is in ‘lighting’ business …

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Mr. Singh is in ‘lighting’ business for the post 15 years. To help his friend, Mr Yadav, a beginner he projected himself as a partner before Mohd. Abdul, a whole sale dealer of fancy lights. Mohd. Abdul gave Mr. Yadav the stock without asking for payment and gave him credit limit of one month. Will Mr. Singh be liable to Md. Abdul if Mr. Yadav does not pay him on time ? Classify Mr. Singh’s role here along with an explanation

Posted by Tashveen Kaur 5 years, 3 months ago

CBSE > Class 11 > Business Studies

1 answers

Sujal Goyal 5 years, 3 months ago

As U have read in the topic of limited liability partnership In which liability of all the partners except one is limited to the extend of their share in the partnership firm So, here Mr singh have limited liability n mr abdul have unlimited liability so ,Mr sing extent of their share in the partnership firm n help his friend In this case Mr singh will be liable to md abdul

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