№ lp_1_2_61530
Explains the structure, rules, advantages, and disadvantages of a Hindu Undivided Family business in India, highlighting legal and managerial aspects.
Year: Not specified
Country: India
Type of document: Informational text
Subject: Business organization, Hindu Undivided Family (HUF)
Legal framework: Hindu Law, Hindu Succession Act 1956
Membership: Family members by birth, up to three generations
Management: Senior-most family member (Karta)
Liability: Karta has unlimited liability; other members limited to share
Business continuity: Continues despite death of any member
Advantages: Easy to start, centralized management, secrecy, prompt decisions, economy, credit facilities, familial harmony, freedom in business selection
Disadvantages: Limited membership, limited capital, limited managerial skill, unlimited liability of Karta, potential misuse of power
Price: 8 / 10 USD
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