Partnership Act - Difference between partnershp and HUF, partnershp and company

Difference between Partnership and Hindu Undivided Family

Partnership
Hindu Undivided Family
Basis for partnership is Contract between the parties
Membership arises out of status
When new member is to be added, consent of all other partner need to be taken
New member is generally baby.
Consent for baby ?  J
Mutual Agency between members
No such relationship. Karta acts like a head
Liability of partner is  unlimited
Limited Liability only to the extent of shares in the family business
Partnership is dissolved by death of partners
HUF is not dissolved by death of partner

Difference between Company and Partnership

Partnership
Company
Regulated by Partnership Act, 1932
Regulated by Company Act, 2013
Does not have separate legal identity
Company have separate legal identity
Partnership firm cannot enter into partnership with other
Companies can enter into partnership with other persons or comapnies
Unlimited Liability
Shareholders of company have limited liability
Minimum number is 2 and maximum is 100 (As per latest company act)
No limit for maximum number

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