Скачать или смотреть MPTET 2026 Varg 1 | Partnership vs Joint Hindu Family | Full Concept & Differences

MPTET 2026 Varg 1 | Partnership vs Joint Hindu Family | Full Concept & Differences
Partnership vs Joint Hindu Family Business | Difference Explained | MPTET 2026 Commerce Class 4
साझेदारी और संयुक्त हिंदू परिवार में अंतर | Partnership vs HUF Business | MPTET 2026
MPTET 2026 Varg 1 | Partnership vs Joint Hindu Family | Full Concept & Differences
Difference Between Partnership and HUF? Business Studies for MPTET & Exams


In this video, we discuss the key differences between Partnership (साझेदारी) and Joint Hindu Family Business (संयुक्त हिंदू परिवार व्यवसाय) for MPTET 2026 preparation. Understanding these concepts is crucial for Commerce and Social Science aspirants.

We cover important topics like the formation of business, liability of members (Unlimited vs. Karta's liability), status of minors, and registration rules under the Partnership Act 1932 vs. Hindu Law.

📌 Topics Covered in this Video:

Definition of Partnership & Joint Hindu Family (HUF)

Applicable Acts (Partnership Act 1932 vs. Hindu Law)

Formation: Agreement vs. Status by Birth

Maximum number of members in Partnership vs. HUF

Registration requirements and legal necessity

Rights of a Minor (Avayask) in both businesses

Liability of Partners vs. Karta and Coparceners

Dissolution of business

⏱️ Timestamps: 00:00 - Introduction (Partnership vs. HUF) 00:12 - What is Partnership? (साझेदारी का अर्थ) 01:07 - What is Joint Hindu Family Business? (संयुक्त हिंदू परिवार व्यवसाय) 02:24 - Role of Karta in HUF 04:11 - Applicable Acts (1932 Act vs. Hindu Law) 04:54 - Formation: Agreement vs. Birth Status 06:30 - Minimum & Maximum Number of Members 10:11 - Registration Rules & Third Party Cases 13:13 - Female Membership differences 14:33 - Status of Minor (Avayask) in Business 21:19 - Liability (Unlimited vs. Limited) 25:13 - Personal vs. Joint Liability Explained 28:34 - Right to Inspect Accounts 29:55 - Rights of Successors (Uttradhikari) 31:46 - Dissolution of Business (व्यवसाय का समापन)

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2. Governing Acts
Partnership: Governed by the Indian Partnership Act, 1932 [04:16].

HUF: Governed by Hindu Law (specifically mentioned as Hindu Act 1955/1958 in the lecture) [04:33].

3. Number of Members
Partnership: Minimum 2 and Maximum 50 members [08:16].

HUF: There is no maximum limit on the number of members because it depends on the family size and births, which cannot be restricted by law [08:44].

4. Registration
Partnership: Registration is not compulsory but is highly recommended. If a firm is not registered, it cannot file a legal suit against third parties, though third parties can sue the firm [10:11].

HUF: Registration is not compulsory and generally not required for family businesses [09:23].

5. Minor Members (Minors)
Partnership: A minor (under 18) cannot be a full partner because they are incompetent to contract. However, they can be admitted to the benefits of partnership (profits only) with the consent of all partners [14:34]. They do not share in losses.

HUF: A minor becomes a member (coparcener) by birth, so minors are full members from the moment they are born [19:33].

6. Liability
Partnership: The liability of all partners is unlimited. Their personal assets can be used to pay off the firm's debts if the business assets are insufficient [25:13].

HUF: The liability of the Karta (head of the family) is unlimited, but the liability of all other members (coparceners) is limited to their share in the family property [26:09].

7. Management and Decision Making
Partnership: All partners have the right to participate in the conduct of the business unless agreed otherwise [23:12].

HUF: The right to manage and control the business lies solely with the Karta (the eldest family member). Other members do not have management rights [23:52].

8. Accounts and Records
Partnership: Every partner has the right to inspect books of accounts and take copies [28:34].

HUF: Members generally cannot demand accounts from the Karta or ask for copies, as the Karta functions on good faith for the family's welfare [28:54].

9. Effect of Death or Insolvency
Partnership: The death or insolvency of a partner can lead to the dissolution of the firm, unless the remaining partners agree to continue [24:24].

HUF: The death or insanity of a member (even the Karta) does not dissolve the business; the family business continues with the next senior member taking over as Karta [24:46].

10. Dissolution
Partnership: Can be dissolved by agreement or notice by partners [32:50].

HUF: The family business is dissolved only through the partition of family property [32:17].

The video concludes by emphasizing that these topics are important for exams (likely MPTET) and advises students to review the concepts carefully [33:09].