Question

The relation of Partnership arises from : 

A Status Correct Answer Incorrect Answer
B Contract Correct Answer Incorrect Answer
C Family business Correct Answer Incorrect Answer
D All of the above Correct Answer Incorrect Answer

Solution

 Indian Partnership Act: Section 5 Partnership not created by status: The relation of partnership arises from contract and not from status and, in particular, the members of a Hindu undivided family carrying on a family business as such, or a Burmese Buddhist husband and wife carrying on business as such are not partners in such business.

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