Question

what rules of partnership apply in the absence of partnership deed?

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Answer 1

Answer:

rules in the absense of partnership deed:-

Explanation:

1.all partners are divide profit and loss equally.

2.if any partner gave loan to firm , partnership firm will give 6%interest on that loan.

3.no salary is given to any partner for participation in the work of partnership firm.

4.no interest will be given in the capital of partners.

5.partners firm will not take interest on his given amount in the form of drawing to any partner. ...........................

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Answer 2

Explanation:

Absence of a Partnership Deed

The partners will share profits and losses equally. Partners will not get a salary. Interest on capital will not be payable. Drawings will not be chargeable with interest.