Busniess Studies Help!

Naffa · 6 Mar 2006 at 01:28

ive just sat down to start my Business Studies coursework (finally

) which needs to be in soon. and have just realised ive lost all my notes.. and was just wondering if anyone here could tell me is a partnership has limited or unlimited liability?

thanks for your help,
naffa

SpicyDuck · 6 Mar 2006 at 01:33

Limited, if I recall correctly.

Naffa · 6 Mar 2006 at 01:33

ok, cheers for your help mate

much appriciated.

rlm · 6 Mar 2006 at 01:36

They have unlimited liability, the only exception to this being if one of the partners is Silent, only providing financial input into the business and not having any say over the day to day running.

The only exception to this is LLP's, which only include professional organisations like Solicitors.

So if its a normal business partnership then its Unlimited, but if you're talking about a business providing a professional service then they can be limited.

SpicyDuck · 6 Mar 2006 at 01:39

Naffa, sorry, I think rlm is right;

http://en.wikipedia.org/wiki/Limited_liability

Re-reading again, and I'm too tired to make any sense of it. I think it's my original suggestion. Limited.

Phil.

Raymond Lin · 6 Mar 2006 at 01:42

Unlimited as any liablity goes to the partners as well as the company. Unless one of the partners have acted Ultra Vires.

Replicant · 6 Mar 2006 at 02:08

Assuming the is GCSEMake sure you get put into the higher Tier for the exam if there is one, i found the exam really easy but could only (and did) get a C

Naffa · 6 Mar 2006 at 02:24

Replicant said:
Assuming the is GCSEMake sure you get put into the higher Tier for the exam if there is one, i found the exam really easy but could only (and did) get a C

oh

i asked to get put in for foundation.. i got predicted a B but only want to get a C and if i get any lower than a C on higher then i get a U

SpicyDuck · 6 Mar 2006 at 02:28

naffa said:
oh i asked to get put in for foundation.. i got predicted a B but only want to get a C and if i get any lower than a C on higher then i get a U

You can change the tier in which you've been entered for upto 4 weeks to the exam, IIRC. So just ask.

I'd say just go for it and aim higher. Gain the confidence to get an A then, when you see all that work that has payed off, you'll be much happier with your results than settling for a C.

Phil.

Replicant · 6 Mar 2006 at 02:29

aim for a higher grade, with some preperation the exams are quite easy to pass.

Replicant · 6 Mar 2006 at 02:31

OvertoneBliss said:
You can change the tier in which you've been entered for upto 4 weeks to the exam, IIRC. So just ask.

I'd say just go for it and aim higher. Gain the confidence to get an A then, when you see all that work that has payed off, you'll be much happier with your results than settling for a C.

Phil.

I was not aware you could elect a tier as such, more it depended upon your ability like sets for maths and english etc, depends on school i guess.