COMPANY vs PARTNERSHIP | Differences between Company & Partnership? |CSEET | CS Payal Popli
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- Опубліковано 20 вер 2024
- COMPANY vs PARTNERSHIP | Differences between Company & Partnership? |Legal Aptitude and Logical reasoning | CSEET | CS Payal Popli
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This video might be useful for students preparing for -
11th Commerce
12th commerce boards
CSEET(CS FOUNDATION ICSI)
CA Foundation
UGC NET COMMERCE
LLB
UGC NET LAW
In this video-
Teacher's Name - CS Payal Popli
Topic - Distinction between Company and Partnership
Chapter 4 -Elements of Company Law
Subject - Legal Aptitude and Logical Reasoning
CSEET (ICSI)
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Distinction between Company and Partnership
The principal points of distinction between a company and a partnership firm, are as follows:
(1) A company is a distinct legal person. A partnership firm is not distinct from the several persons who compose it.
(2) In a partnership, the property of the firm is the property of the individuals comprising it. In a company, it belongs to the company and not to the individuals comprising it.
(3) Creditors of a partnership firm are creditors of individual partners and a decree against the firm can be executed against the partners jointly and severally. The creditors of a company can proceed only against the company and not against its members.
(4) Partners are the agents of the firm, but members of a company are not its agents. A partner can dispose of the property and incur liabilities as long as he acts in the course of the firm’s business. A member of a company has no such power.
(5) A partner cannot contract with his firm, whereas a member of a company can.
(6) A partner cannot transfer his share and make the transferee a member of the firm without the consent of the other partners, whereas a company’s share can ordinarily be transferred.
(7) Restrictions on a partner’s authority contained in the partnership contract do not bind outsiders; whereas such restrictions incorporated in the Articles are effective, because the public are bound to acquaint themselves with them.
(8) A partner’s liability is always unlimited whereas that of shareholder may be limited either by shares or a guarantee.
(9) A company has perpetual succession, i.e. the death or insolvency of a shareholder or all of them does not affect the life of the company, whereas the death or insolvency of a partner dissolves the firm, unless otherwise provided.
(10) A company is legally required to have its accounts audited annually by a chartered accountant, whereas the accounts of a firm are audited at the discretion of the partners.
(11) A company, being a creation of law, can only be dissolved as laid down by law. A partnership firm, on the other hand, is the result of an agreement and can be dissolved at any time by agreement.
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DI aapka aawaj or bolne ka tarika gajab ka hai
bole to gajabbbb...
I must admit ur way of teaching is very interesting and it clears the topic very easily. Thanks
This is best best best best....... presentation by mam compare to all vedio at social media platform regarding company law act 2013. Thanks madam. Pls explain each chapter like this...
❤️❤️
Ma'am you make every concept so interesting....excellent explanation !!!!
Thanku so much ❤️❤️❤️
Ma'am
You teach very effectively and make things easy to understand. Wish all the good luck. Keep it up for students benefits.
With warm regards.
Madam, hats off for you. your speech is always uninterrupted and well edited and very inculcative. This all is because of your concepts are very much clear in your subject. God bless you.
love and respect from Pakistan.
bohaat hi acha pardhati hain Mam aap, Thank you so much for your lectures.
🥰
Extremely underrated channel, deserves millions of views👏
That's a best way of explanation; thank you soo much Ma'am!
,✨
Excellent knowledge 👌 👏 thanks
Really ma'am awesome explanation 🔥,, thanks a lot 🥰
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Beautiful skills you have mam.❤️
Thanks a ton ❤❤❤
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Nice and Excellent explanation Mam ❤
Yar today i saw ur vdos n i got best 1 teacher in u👏👏👏 carry on
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Hello mam ...ur all videos are helping me a lot in b.com 2 year ...thank you so much
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Thanks for your hard work it helping me lots🙂🙏
Super video
😊
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Thanks mama bahut ache se samjh me aa gaya 🙏🙏
❤ हमारे LAW कॉलेज मे आकर हमारी टीचर को थोडा पडाईये
thanks
Very helpful video Mam
Thanku mam
Really you teach too good
Very well explained ❤
Thank you mam 😁
Keep it up mam 👍
Thnkuu so much ❤️🥺
Thank you so much mam for best explan❤️tion☺️
Thank you mam ❤️🙏😊
How Cute Teaching🎉❤
Thanks a bunch ❤
Maam your explanation is amazing☺️
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You teach well
Thank you so much mam❤️🙏for explaination
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Well explained
Zabardast video
Thank u so much 💐
Very good
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Mam 👌 video😊
mam everything is fine but mam black board is quite un comfotable plxx change the board colour
Thank you
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❤
Helpful
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Good mam
Nice
nice
Hlo! Ma'am i have one doubt... What is difference between partnership and partnership firm?
I searched you from magnet brain s
🥰💐
😂 mam aap mujhe hr jagah mil jate ho😂😂
😂
👌👌👌
Mam company and cooperation me kya difference hota h
Ap ne kon sa editor use Kiya ha. Apni video k background k liye
Hello mam
I want to know "agency channel" & "partnership" in financial sector is botb are same ?
Mam whether private or public companies be partner in partnership firm?
Mam!
As u said company's property is not owned by the members. So in case if liquidation of the company what will happen to the property?
Who will get the value? If company property is not owned by members but by company itself?
Plz guide me and solve my doubt.🙏
See at the tym of liquidation…assets n properties are sold…and the proceeds are used for paying off liabilities of companies first…n of everything is paid den leftover portion is given to shareholders who invested in shares.
Mam pls urget eh jb bhi comment dekho to plz respond krna
👍
Mam magnet se yha kese agyi aap😅😁
Dis is my personal channel😛😅
Who takes decision in company?
Madam in LLP have limited liability shield ha na reply
Yes LLP means Partnership with limited liability
Aur khai pe comments on nhi yha bht mushkil se mila eh
Hello mam ek dought eh plz aap clear kroge
Boliye
Mam please use white board
Ok
02:38 start here
Toh partnership business main koi advantage nahi hai?
Flexibility, Less Legal formalities
I love you 🫶 mam
Company ka bhi to koi representative hoga o koi bhoot to h nai
Explain it practically not only theoretically
Apple 🍎🍎 girl
Ma'am, put subtitle for non Hindi speaking.
Yash chopra
Mam hindi me bola kro sb please 😢😢😢😢
mere badle me exam dedo kal 🥲🥲🥲🥲🥲
Itni hard Language use ki hai....
Company ka agent kon hoga tumhara bhoot
Tuu 😂😂
Very well explained
Thanku mam
Thank you mam so much
Thanks 🙏
🤗❤️
❤️❤️
😊☺️