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partnership urgent - yasinACCA - 05-16-2007

how r u all
Dear seniors i have some quries. i hope u will answer of these.
why the partnership limit is restricted to 20?
why the partnership limit is restricted to 10 in banking field?
why the partnership limit can exceed more than 20 in case of professionals?
i hope u will reply my these question as soon as possible.

- Schuaeb - 05-17-2007

What you mentioned are provisions Law. And, why law is like this I wonder how one can explain.

Professional firms are restrcited from incorporation, so the number of partners in this case may exceed 20.

May be you do not have the exact idea. It does not mean that a business cannot take place with more than 20 members. But for having more than 20 members the enterprise has to incorporate. (become a company)

- yasinACCA - 05-17-2007

i m satisfied about my my third question. which u answerd.
but if when the statute comes regarding partnership so i think there will b some logis or reason behind it.
so if any other comments so i m waiting for my remaning 2 question's answers