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Question
Justify the following statement.
Karta is the sole manager of ‘Joint Hindu Family Business’.
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Solution
- The Karta is the eldest or senior most person in the family business.
- A Karta has unlimited liability.
- He has the entire decision making power and he is not binding on the views of the co-parceners.
- Thus, Karta is the sole manager of the Joint Hindu Family business.
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