Do you mean by joint Hindu family business?

It refers to a form of business organization which is owned and carried on jointly by the members of the Hindu Undivided Family (HUF). It is also known as Hindu Undivided Family Business.

What is joint Hindu family business explain its advantages?

Advantages of Joint Hindu Family Business are:

Flexibility in operation. Business Secrecy. Continuity of business. Minimum Government regulations. Limited liability of co-parceners.

What is the disadvantage of joint hindu family business?

Demerits of Joint Hindu Family Business: Limited Resources: The capital is limited only up to the resources of one family. No outside members other than family members can be introduced to the HUF. Thus the joint Hindu family business faces the problem of limited capital as it depends mainly on ancestral property.

What are the unique qualities of Hindu joint family?

Characteristics of a Joint Hindu Family Business:

  • Governed by Hindu Law: The business of the Joint Hindu Family is controlled and managed under the Hindu law. …
  • Management: …
  • Membership by Birth: …
  • Liability: …
  • Permanent Existence: …
  • Implied Authority of Karta: …
  • Minor also a Partner: …
  • Dissolution:

What are the merits and demerits of joint family?

Merits and Demerits of Joint Family System in India (1572 Words)

  • Division of Labour: Joint family secures the advantages of division of labour. …
  • Economy in Expenditure: …
  • Protection from Division of Land: …
  • Social Security: …
  • Satisfaction of Basic Needs: …
  • Rearing of Children: …
  • Social Virtues: …
  • Social Control:
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What is the main cause of decline in joint Hindu family business?

Conflict or family quarrel has caused the breakdown of joint family system. Conflicts regarding family property, its income and expenditure, unequal distribution of work at home and personal clashes between women lead to the break-up of joint families.

What is the feature of joint Hindu family business?

Characteristics of Joint Hindu Family Business:

There should be at least two male members in the family to form a HUF. Ancestral property should have been inherited by members of HUF. All of the members enjoy this property and have an equal share in that property.

Who controls the joint Hindu family business?

The head of the joint hindu family business is known as Karta. Karta is usually the senior most male member of the joint family and he has the power to control the whole business.

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