Question

Describe the following kinds of partners in a partnership firm-

(a) Active Partner (b) Sleeping partner

( c) Secret partner (d) Partner by Estoppel

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Answer 1

Answer:

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Answer 2

Answer:

a)Active partner

Everyone knows that he/she is a partner in the business.

b)Sleeping Partner

Sleeping partner is one who doesn't take part in the day to day activities of business.

c)Secret Partner

A partner whise association to the firm is unknown to the general public js called secret partner.

c)Partner by Estoppel

Partner who is not taking active part in the management of a partners hip firm is known as partner by estoppel.

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