Question

Enlist any two advantages and values revealed by partnership deed

Answer 1

1.      A, B and C are partners in a firm. A, who has advanced a loan of Rs 10,000 to the firm, demands interest on his loan at 10% p.a. at the end of the accounting period. State whether the claim of A is valid or not in absence of partnership deed. Also support your answer with sufficient reason.

Answer 2

Answer:

No, A's claim is not valid .

Explanation:

because according to the absence of partnership deed A get only 6% interest on his loan.