The relation between persons who have agreed to share the profit of the business carried on by all or any one of them acting for all. (a) Sole proprietorship (b) Joint Hindu family business (c) Partnership (d) Cooperative societies
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Indian Partnership Act was passed in the year 1932. According to this Act, “partnership is the relation between two or more persons who have agreed to share the profits of a business carried on by all or any of them acting for all”.
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