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A joint stock company is formed as per the procedure laid down under Companies Act 2013. It differs from partnership by following points

1) Liability of Stock holders/ share holders of the company towards the creditors is limited and that in case of partnership the liability of partners is unlimited.

2) The company is an artificial legal person and has a legal identity as well as has a common seal where-as there is no such seal of partneship nor it has an existance of artificial person.

3) A joint stock company has perpetual succession that means the company will succeed even in case the shareholders/stockholders are not alive but in case of partneship there is such perpetual succession. if one partner is dead the whole partneship firm dissolves

4) Joint stock company is Administered under Companies act 2013 and partneship is administered under Partnership act 1932.

 

 

Answer
Joint stock company is formed by way of registration. Here are the four aspects that enables to differentiate between company and partnership. Min no of partners required for commencing a business is 2 whereas min no of members required are 2 in private company whereas 7 in public company. There is existence of Mutual Agency between the partners but there is no such concept in the company. Partner is an agent of other partners whereas a member of a company is neither an agent of members nor that of the company or its directors. Partners have unlimited liability whereas members have limited liability.
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Joint stock company is formed by getting compulsory registered under the Indian companies act 1956... 1. Jsc members have limited liability nature whereas pf members have unlimited liability nature 2. Registration of jsc is compulsory, whereas pf is optional 3. Jsc is under control of central government, whereas pf is under control of state government. 4. Jsc is Public as well as private owned organisation, whereas pf is privately owned Enterprise
Answer
Joint stock company means a company formed jointly by members of common interest i.e profit and they contribute high amount of capital and their liability restricted to amount of shares held by them .whereas partnership means when two persons form agreement , this is not legally bound . Partners having unlimited liability in respect amount contributed by them , in case of liquidation partners personal property can also be undertaken to held as a part of settlement at the time of insolvency .

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