Question

Co-venturers’ liability is_________.

Options

• limited

•  fixed
   

•  unlimited

   

•  specific

Answer 1

Co-venturers’ liability is limited.

Explanation:

Joint venture is a form of business similar to a partnership firm, where two or more persons or organisations join hands to work-out some specific event. However, unlike the partners, the liability of co-venturers is limited to a particular venture only.

Hence, the correct answer is option (a).