Ram, Sameer and Joseph are partners in a partnership firm. They are sharing profits and losses at a ratio of 2:2:1. A dispute arises among them on a particular issue related to transferring of interest of Ram’s share to his brother Shyam. Sameer and Joseph refuse to accept the proposal of Ram for transferring his share in the firm business to Shyam.
Identify the limitations of partnership firm highlighted in the above case.
(A) Limited Resources
(B) Unlimited Liability
(C) Lack of Public Confidence
(D) Non-transferability of Interest