What do you mean by JHF business? Explain the two systems which govern membership in this business

cbse
formsofbusiness

#1

It refers to a form of organisation wherein the business is owned and carried on by the members of Hindu Undivided Family. It is governed by Hindu Succession Act. The two systems which governs membership in the family business are :
(a)Dayabhaga.
(b)Mitakashara.