The three limitations of partnership are:
1. As the number of partner is limited to ten in the case banking business, and to twenty in the case of any other business, the capital that can be collected by a , partnership is limited.
2. A partnership firm lacks continuity of existence. The death, insolvency, insanity or retirement of a partner may put an end to the partnership business.
3. Owing to the absence of strict Government control and lack of publicity of its . accounts, a partnership concern cannot enjoy public confidence.
