New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    What does a "partnership at will" signify under the

    Partnership Act?
    A A partnership where the duration and terms of dissolution are specified in the contract Correct Answer Incorrect Answer
    B A partnership that continues indefinitely unless terminated by mutual consent or as per the terms of the contract Correct Answer Incorrect Answer
    C A partnership where no provision is made by contract between the partners for the duration of their partnership or for the determination of their partnership Correct Answer Incorrect Answer
    D A partnership that automatically dissolves upon the occurrence of a specified event Correct Answer Incorrect Answer
    E A partnership formed for a fixed period with automatic renewal clauses Correct Answer Incorrect Answer

    Solution

    Partnership Act: Section 7. Partnership at will: 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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