First Principles of Business Law
Business organisations in Australia

5. Partnerships

Question 3. Does a partnership have a legal identity separate from that of the partners?

 

 

 

Read the statements below and select the best one.

(a) A partnership or 'firm' has a legal identity separate from that of the partners, and the partnership can therefore acquire legal rights and duties in its own name.

(b) Although it is sometimes described as a 'firm' with its own name, in fact a partnership has no separate legal identity of its own. It is the partners themselves who acquire the relevant legal rights and obligations.

 

 

 

 

 

 

 

  

 

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