The Indian Partnership Act, 1932 - [Unit - 1].

Question 1

What is a Partnership?

Answer 1

Section - 4

Question 2

Essential Elements of a Partnership.

Answer 2

Explain all the essential of a partnership.

Question 3

True Test of Partnership.

Answer 3

Section - 6.

Question 4

Kinds of Partnerships.

Answer 4

Partnership at Will [Section 7].
Partnership for a fixed period.
Particular Partnership.
General Partnership.

Question 5

Types of Partners

Answer 5

1. Active Partner.
2. Sleeping or Dormant Partner.
3. Nominal Partner.
4. Partner for profits only.
5. Incoming Partner.
6. Outgoing Partner.
7. Partner by holding out [Section 28]