In a document executed between lsquo A rsquo lsquo B rsquo rsquo C rsquo and lsquo D rsquo it was pr...........

Indian Partnershoip Act (IPA) 1930 Admission and Retirement

In a document executed between ‘A’. ‘B’,’C’ and ‘D’, it was provided that ‘D’ would be incharge of the firm and get Rs.200/- per month and devote his whole time to it, he would also get 10 per cent of the net profits of the firm, but would get no share in the surplus profits of the firm, which were to be equally divided between’A’, B and C only. Is ‘D’ a partner of the firm? (10 MARKS)

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