Question

What does Partnership means as per sec. 4 of Partnership act 1932​

Answer 1

Answer:

According to Indian Partnership Act ,1932 , Section 4

Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any one of them acting for all.

hope it helps..

Answer 2

Answer:

As per the provisions of law, in the absence of partnership deed all partners share profits equally, Therefore even if a partner is sleeping partner, he would get equal share irrespective of capital contribution by him.