Question

1. ANSWER WITHIN TWO/THREE SENTENCES :
1. Define partnership.
2. What is meant by contractual relationship of partners ?
3. What is meant by implied agency ?
4. What is partnership at will ?
5. State two characteristics of partnership.


Hey guys plzz Answer My Question.

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Answer 1

Explanation:

) Principal-agency relationship exists between partners by default; they need not mention it specifically. iii) Partners need not describe the

State two characteristics of partnership

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The Act also explains that persons who have entered into partnership with one another are called individually “partners” and collectively “a firm”.

Existence of an agreement: ...

Existence of business: ...

Sharing of profits: ...

Agency relationship: ...

Membership: ...

Nature of liability: ...

Fusion of ownership and control:

Answer 2

Hey mate your answer is in the given attachment

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