Question

According to which Section of the Indian Partnership Act 1932 partnership is defined as the 'relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'?

Options

• Section 4

• Section 6

• Section 8

• Section 10

Answer 1

Section 4

Explanation:

The Indian Partnership Act of 1932 defines partnership as a "relationship between persons who have agreed to share the profits of a business carried on by all or any of them acting for all." The firm's name is the name under which the business is conducted.