Question

State the advantages of registering a partnership.

Answer 1

The advantages of registering a partnership are:

1. The firm can file lawsuits against third parties.
2. Partners can file lawsuits against each other.
3. The firm can sue its own members.
4. The firm can claim adjustment of claims exceeding ₹1200.
5. Partners can file suits against the firm.
6. These benefits provide legal protection and enforceability for the partnership and its members, which unregistered firms do not enjoy.