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Demerits of partnership |
| Answer» Demerits of partnership firma. No Business secrets:\xa0The partner can keep the secrets to himself but these secrets can be known to competitors or others when there is conflict among the partnersb. Uncertain existence:\xa0Death of any partner can sometime cause death of entire firm. Dishonesty, conflict and lack of resource also can collapse the firmc. No Personal contact:\xa0A partner can’t be in a position to maintain intimate contacts with his customers and employees. He cannot be able enter to the requirements of each and every customer. Then there is no close personal touch which decreases the competitive strength of the business.e. Unlimited liability:\xa0Proprietor is liable for all the debts of the business. In case the assets are insufficient to meet the debts, the personal property of the proprietor can be attached. | |