Question

In the absence of any provision by contract between the partners for the duration or determination of their partnership, what type of partnership is it?

A Joint Venture Correct Answer Incorrect Answer
B Partnership-at-will Correct Answer Incorrect Answer
C Limited Partnership Correct Answer Incorrect Answer
D General Partnership Correct Answer Incorrect Answer
E Limited Liability Partnership Correct Answer Incorrect Answer

Solution

As per section 7 of Indian Partnership Act: Where no provision is made by contract between the partners for the duration of their partnership, or for the determination of their partnership, the partnership is "partnership-at-will".

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