When is the Partnership Act enforced ........

When is the Partnership Act enforced?

when there is no partnership deed

where there is a partnership deed but there are differences of opinion between the partners

when capital contribution by the partners varies

when the partner’s salary and interest on capital are not incorporated in the partnership deed

- No partnership deed: The Partnership Act is enforced when there is no partnership deed, as it provides default rules to govern the partnership.

- Differences of opinion: This doesn't necessitate the enforcement of the Act, unless there's no deed to clarify terms.

- Varying capital contributions: This situation is normal and doesn't require Act enforcement unless disputes arise without a deed.

- Absence of partner salary and interest details in the deed: The Act applies to fill gaps if these aspects aren't specified in the deed.

- Correct Answer: Option 1 - when there is no partnership deed

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