Question

As per section 37 of the Indian partnership act 1932, in the absence of partnership deed, the retiring partner is entitled to interest @ _________ till the time amount due to him is not paid. *
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Answer 1

Explanation:

per annum on the amount of his share in the property of the firm: Provided that whereby contract between the partners an option is given to surviving or continuing partners to purchase the interest of a deceased or outgoing partner, and that option is duly exercised, the estate of the deceased partner, or the outgoing