Question
According to Indian Partnership Act When a partner
transfers their interest in the firm, the transferee is entitled to______________________Solution
Receive the share of profits of the transferring partner, Explanation: Section 29: A transfer by a partner of his interest in the firm, either absolute or by mortgage, or by the creation by him of a charge on such interest, does not entitle the transferee, during the continuance of the firm, to interfere in the conduct of the business, or to require accounts, or to inspect the books of the firm, but entitles the transferee only to receive the share of profits of the transferring partner, and the transferee shall accept the account of profits agreed to by the partners.
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COGENT
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