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Firm Ordinance, 1984, regulates the generation, Corporation and dissolution of firms in Pakistan. An organization creates a legal or “synthetic particular person” or entity which includes standing to sue and become sued, enter into contracts, and execute other responsibilities needed to sustain a business, individual from its stockholders. Firms are taxable entities, which shields the person homeowners or shareholders from personal legal responsibility to the liabilities and debts of the company.
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