Multiple Choice Questions on The definition of quot partnership quot given under Sec 4 of the Partnership Act 1932 is ........ for Judicial Services (Master) Preparation

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Multiple Choice Questions

The definition of quot partnership quot given under Sec 4 of the Partnership Act 1932 is ........

Indian Partnershoip Act (IPA) 1930 Others
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    The definition of "partnership" given under Sec 4 of the Partnership Act, 1932 is:

    Relation between persons who have agreed to share the profit of a business carried. on by all or any of them acting for all.

    Correct Answer

    Relation which subsists between persons who have agreed to combine their property, labour or skill in some business, and to share the profits thereof between them. 

    Incorrect Answer

    Relation which subsists between persons carrying on a business in common with a view to profit. 

    Incorrect Answer

    All are correct. 

    Incorrect Answer
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    Explanation:

    Relation between persons who have agreed to share the profit of a business carried. on by all or any of them acting for all.

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