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Forms Of Business Organization

Question

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Only the Karta has unlimited liability in HUF. Explain.

Solution

In the case of HUF, if the business suffers from losses, then losses can be recovered from Karta's personal property.
The co-partners are responsible to bear the losses upto the extent of their share on profit.
Losses cannot be recovered from their personal property

Some More Questions From Forms of Business Organization Chapter

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Explain whether the liability of a sole proprietorship is limited to the extent of his share in business.

Only the Karta has unlimited liability in HUF. Explain.

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