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Registration of a partnership firm does not create a partnership. It is merely a legal requirement to register a partnership firm under the Indian Partnership Act, 1932. The Act defines a partnership 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." Therefore, a partnership is created by an agreement between persons who intend to carry on a business together and share the profits. Registration of a partnership firm is only evidence of the partnership and not the creation of it. In other words, if a partnership is created, it exists even if the partnership firm is not registered. However, registration of the firm provides evidence of the partnership, which can be useful in case of disputes or legal issues.
Slap on the Wrist
Fill in the blank given below using the correct idiom.
Sarah's calm demeanor during the crisis put her _______________, as she effectively gu...
Select the most appropriate meaning of the given idiom.
snug as a bug in a rug
"The politician tried to pass the buck when questioned about the scandal."
The fact that the guard was a thin man considerably shorter than Walker made the task seem like a catwalk .
In each question below, a sentence is given with an idiom/phrase printed in bold type. That part may contain a grammatical error. Each sentence is follo...
Good Samaritan
Choose the option which best expresses the meaning of the idiom/phrase in bold in the sentence.
Despite several setbacks, the young entrepreneur de...
Widely known and esteemed
Burglars broke into our neighbour’s house last night.