Distinguish between Partnership and a limited company

Distinguish between Partnership and a limited company

ANSWER

Partnership	Limited Company
A partnership is the relation which subsist between persons carrying on a business in common with a view of profit. It may be general or limited.	This is a body corporate incorporated under the Companies Act and may be public or private.
It is an unincorporated association.	All companies are legal entities or incorporated.
Liability of members is generally unlimited	Liability of members is limited shares or guarantee.
Consists of 2-20 members.	A private company consists of 2-50 excluding employees who are members.
Property is jointly owned the partners.	Has capacity to contract and own property.
It is a contract of the utmost good faith.	Companies are subject to the doctrine of Ultra vires.
Every partner is an agent of every other and the firm.	A company must have directors, at least one for a private company and at least two for a public company.
The firm name is registrable under the provisions of the Registration of Business Names Act.	All companies are incorporated registration in accordance with the provisions of the companies act.
	Has capacity to sue or be sued.
	It has perpetual succession.