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Realisation of Assets and Liabilities - Comprehensive

Select the pr...

Question

Select the proper option from the options given below and rewrite the completed sentences.

The Karta in Joint Hindu family Business has ________ Liability.
(a) Unlimited
(b) limited
(c) joint

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Solution

Correct option- a
The Karta in Joint Hindu family business has unlimited liability.
Explanation:
The Karta’s property can be used to pay the liabilities of the business if the business assets are not sufficient to pay off the debts, thus, he has unlimited liability. The liabilities of coparceners are limited.

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