... assets as security for borrowing. A company will have greater borrowing power and may use its trading stock and future acquired assets as security for borrowing by giving a debenture as security. A partnership will be dissolved on the death or retirement of one of the partners. A company will continue in existence even after ... the death of a shareholder and this will make it easier for the business to be continued or disposed of. Partners are agents of the business and the contracts of one partner while acting in the normal course of business will bind the other members. The members of...

• Word Count: 625
• Approx Pages: 3
• Grade Level: Undergraduate