Question

Which act is applicable to partnership business? (Answer in one sentence)

Answer 1

♥ both quentry od money should be equal

Answer 2

Answer:

Indian Partnership Act, 1932

Explanation:

The Indian Partnership Act was introduced in 1932 but before that, all the business related to the partnership was dealt under the Indian Contracts Act, 1872.

The Indian Partnership Act now has become a separate act from Contracts act and deals with all the laws and rules of partnership including the definition of partnership, formation, constitution, dissolution, etc. in a partnership.