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Shareholding in partnership firm
Hi,
My questions are :
1. Who all are termed as Shareholders, in a Partnership Firm?
2. And, whether while financing a Business Loan to a Partnership Firm, are all Partners liable to pay the loan (in event of default by firm) or only those Partners are liable who are Co-Borrowers in the loan?
Thanks & With Regards,
Rajendra Kumar
Replies (1)
There is no such thing called shareholders in the partnership firm. All the partners should be personally liable for the loans obtained by the partnership as partners and partnership are one and same in the eyes of law.
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