A partnership for which no period or duration is fixed under the Indian Partnership Act is known as :

Related MCQs

• Where no time is expressly stated for its duration and there is no contract to fix the duration, the partnership may be terminated at a moment's notice by the other party. This partnership is called -
• Identify the incorrect statements: (1) When a firm is constituted for a fixed duration it cannot be dissolved before the expiry of that duration. (2) A partnership at will can be dissolved by the wish of even a single partner. (3) When a partner of a firm becomes lunatic, the firm dissolves automatically. (4) Even after dissolution, partners of a firm continue to be liable for acts of the firm until the affairs of the firm are finally wound up. Code:
• Under section 4 of the Indian Partnership Act, 1932, partnership is a:
• The relation of partnership arises from contract and not from status and in particular the Indian Partnership Act does not apply to the family business carried on by:
• For constituting a partnership within the meaning of section 4 of the Indian Partnership Act,1932.
• The term 'partnership' has been defined under…………of the Partnership Act, 1932:
• Consider the following statements: 1. There is no difference between the English law and Indian law with regard to acceptance through post. 2. Both under the English law and the Indian law a contract is concluded when the letter of acceptance is posted 3. Under the Indian law when the letter of acceptance is posted it is complete only as against the proposer. 4. It is complete only as against the proposer. Which of the above statements is/are correct?
• An agreement of service under which an employee agrees that he will serve a particular employer for a certain duration and that he will not serve anybody else during that period, is a
• Limited Liablility partnership is a form of partnership that:
• X, Y and Z are partners in a firm. X, without the authority of Y and Z buys certain shares in his name out of partnership money. Will 'shares' constitute partnership property?