Multiple Choice Questions on In which of the following cases a partnership exist ........ for Judicial Services (Master) Preparation

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Multiple Choice Questions

In which of the following cases a partnership exist ........

Indian Partnershoip Act (IPA) 1930 Others
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    In which of the following cases, a partnership exist:

    Several persons jointly purchase goods for resale with a view to divide the profits arising from the transaction.

    Correct Answer

    Persons (co-owners) who join in the purchase of goods for the purpose of dividing the goods themselves.

    Incorrect Answer

    A, B and C agreed that each I should furnish £ 3000 worth of goods to be shipped on a joint adventure, the profits to be divided between them according to the amount of their several shipments. 

    Incorrect Answer

    Two tenants in common of a house let it and divide the rent equally. 

    Incorrect Answer
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    Explanation:

    Several persons jointly purchase goods for resale with a view to divide the profits arising from the transaction.

    By: santosh
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