Multiple choice

There is no provision in the partnership deed regarding the duration of partnership. This is

  1. partnership at will

  2. partnership for an indefinite period

  3. partnership by estoppel

  4. partnership not recognised by law
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

When a partnership deed has no duration clause, it's called a 'partnership at will' under partnership law. This means either partner can dissolve it by giving notice. 'Partnership for an indefinite period' is not the legal term; 'at will' is the correct classification.

Keep practicing — related questions