Question
As per the Indian Partnership Act where a firm
constituted for a fixed term continues to carry on business after the expiry of that term, the mutual rights and duties of the partners remain the same as they were before the expiry, so far as they may be consistent with the incidents of partnership at will. This provision is designed to ______________Solution
Preserve the existing rights and duties of partners after the fixed term, Explanation: Section 17Â (b) where a firm constituted for a fixed term continues to carry on business after the expiry of that term, the mutual rights and duties of the partners remain the same as they were before the expiry, so far as they may be consistent with the incidents of partnership at will.
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