Question

The Indian Partnership Act is in force since ________. (Fill in the blank by choosing correct option)
a) 1932
b) 1956
c) 1960
d) 1984

Answer 1

In 1932 the indian partnership act start

Answer 2

Answer:

The correct answer to the given question is option (a) 1932

Explanation:

Indian Partnership Act was enacted in the year 1932. This act was the first part of Contract act only but later on it was separated and formed into a new act.

This act deals with the rules and laws related to partnership firms and defines a partnership as a relation between two or more people sharing the same interest and profit thereof.