Question

in the absence if partnership deed, intrest on partner's loan is?

Answer 1

Bekar
what is your questions

Answer 2

Hey Friend, here's the answer-

1. No interests on the capital and commissions/salary would be allowed.

2. Profits and losses would be shared equally among partners.

3.  The Partner has the right to inspect the accounts of the firm and he could also have a copy of the same.

4. If the partner have provided with any loan then it would be paid at an interest of 6% and doesn't have to do with the loss of the firm.

5.  The partner has a right to participate in the proceedings of the business.

6. If the previous partner would agree then only a new partner can be admitted.

Hope it helps!!