Question

a new partner may be admitted to a partnership firm _______.
(1) with the consent of 2/3rd of old partners.
(2) with the consent of all old partners.
(3) without the consent of old partners.
(4) with the consent of any of one partner.
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Answer 1

For the given question, the correct option is option 2 that is "with the consent of all old partners".

According to the Partnership Act 1932, A new partner can be admitted only with the consent of all the old partners of the firm.

A newly admitted partner gets two main preferences in the firm–

1. Right to share the assets of the firm.

2. Right to share the profits of the partnership firm according to the ratio of agreement.

Answer 2

with the consent of 2/3rd of old partners