Partner in Firm
This query is : Resolved
17 October 2008
Can a partnership firm be a partner in another partnership firm.
say A&B Firm has 2 patners - A & B. Now can this A&B firm hold substantial interest (say 90% etc)in another firm like C&D Firm?
say A&B Firm has 2 patners - A & B. Now can this A&B firm hold substantial interest (say 90% etc)in another firm like C&D Firm?
17 October 2008
No. This is because, a firm does not have a separate existence away from its partners. The firm is not a legal person.
22 October 2008
no it cant since it is not a seperate legal entity. that is members and firm is one and the same. and liability of the firm extend to personel assets of the partners
23 October 2008
Yes.
20 November 2008
it cant
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