Question
Under the Indian Partnership Act, 1932, Section 13,
partners are entitled to which of the following by default?Solution
Section 13 of the Partnership Act establishes the default profit-sharing rule: partners share profits equally unless there's an express or implied agreement to the contrary. Notably, partners are not entitled to salary, interest on capital, or remuneration for work unless specifically agreed, emphasizing partnership as a relation of mutual trust rather than employment.
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