Question

Under the Partnership Act, 1932, the essential element of partnership is:

A The joint ownership of a property used for commercial purposes
B An agreement between persons to share profits of a business carried on by all or any of them acting for all
C The holding of common property with the intent to eventually sell it for profit
D The collective management of assets by members of a Hindu Undivided Family
E The acquisition of a distinct legal entity status separate from its members
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