Mark the incorrect statement ........

Indian Partnershoip Act (IPA) 1930 Others

Mark the incorrect statement

Joint heirs simply by their community of interest do not ipso facto become partners.

A member of the family business is a co-partner by operation of law (i.e. personal law), but not a partner under the Partnership Act.

That partnership is the result of a contract and cannot arise by status is sufficiently emphasized by Sec. 4, which I uses the expression "who have agreed".

Where a managing member of a joint family enters into a partnership with a stranger, the other members of the family ipso facto become partners in the business

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Explanation:

Where a managing member of a joint family enters into a partnership with a stranger, the other members of the family ipso facto become partners in the business