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JAMB Commerce 2010 Question 26

Question 26

Business Units

One of the main features of a partnership is

  1. A.limited liability
  2. B.lack of corporate existence
  3. C.unlimited membership
  4. D.lack of mutual confidence.
Show the answer and explanation

Answer: B (lack of corporate existence)

Explanation

An ordinary partnership is not a separate legal person from its partners.