All of the following are characteristics of partnerships except

(a) mutual agency.
(b) unlimited life.
(c) association of individuals.
(d) co-ownership of property.

A partnership is a 50-50 relationship between the two parties and can involve the 3rd parties. The partnerships are done with morst of the profit-seeking motives and involve mutual agreement, mutual gains, and is thus an association of many individuals.

Hence the option B is correct.

Learn more about the are characteristics of partnerships.

link.

The correct answer is letter "B": unlimited life.

Explanation:

A Partnership is an organization where two or more owners operate a business. They share the profits in proportion to their percentage partnership. interest. There are two types of partnerships: general partnerships (unlimited liability) and limited partnerships (passive investors who are liable according to the amount of money they contribute to the business).

Unlimited life companies are limited liability companies where personal assets are not included in front of business debts.

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