Section A

What is the maximum number of partners allowed in a standard partnership formed under the Partnership Act 1890?

Answer options:

100

There is no maximum limit.

How to approach this question

Recall the current rules regarding partnership size following deregulation.

Full Answer

D.There is no maximum limit.✓ Correct

Historically, the Companies Act 1985 limited partnerships to 20 members. However, this restriction was removed in 2002. There is now no maximum limit on the number of partners in a standard partnership.

Common mistakes

Believing the old 20-partner limit still applies.

Question 44 All questions Question 46

Practice the full ACCA LW — Corporate and Business Law Practice Exam 6

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