- THE INDIAN PARTNERSHIP ACT ,1932
GENERAL NATURE OF PARTNERSHIP
DEFINITION ( SECTION 4)
- PARTNERSHIP IS THE RELATION BETWEEN WHO HAVE AGREED TO SHARE THE PROFITS OF THE BUSINESS CARRIED ON BY
ALL OR ANY OF THEM ACTING FOR ALL.
- PARTNERS ARE THOSE PERSONS WHO HAVE ENTERED INTO PARTNERSHIP WITH ONE ANOTHER ARE CALLED INDIVIDUALLY PARTNERS AND COLLECTIVELY A FIRM
