Multiple choice

Sourav and Gourav agree to divide the profit of a business in equal shares. But if there is any loss in the business, it will be borne by Sourav alone. The partnership agreement is

  1. void

  2. lawful

  3. voidable

  4. illegal

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The partnership agreement will be lawful as partners have mutually agreed regarding profit or loss sharing ratio.