Question

State Whether the Following Statement Are True Or False (Give Reason).

A partnership agreement cen be verbal or written.

Options

• True

• False

Answer 1

This statement is True.

1. Written agreement of Partnership firm is called as Partnership Deed. There is no compulsory that the agreement of Partnership should be in written form. 
2. However, it is advisable to have written agreement to avoid conflicts and future disputes between the partners.