Question

Q.A partnership where its duration is fixed and cannot be dissolved by any partner at his will, is known as:
(a)Particular partnership
(b)General partnership
(c)Partnership for fixed period
(d)Partnership at will.

Answer 1

Option B is correct i.e. Partnership for a fixed period.

A partnership where its duration is fixed and cannot be dissolved by any partner at his will is known as a Partnership for a fixed period.

• Partnership is an agreement between two persons who have agreed to share the profit and losses of the firm in the future.
• Partnership for a fixed period means that the duration of this partnership is fixed.
• This form of partnership will run until and unless its period gets over.