Multiple choice

An agreement of partnership may be

  1. expressed or implied from the act done by partners

  2. oral or in writing

  3. both (1) and (2)

  4. none of these

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

A partnership agreement can be formed either expressly (clearly stated, orally or in writing) or impliedly (inferred from the conduct of the partners). The Indian Partnership Act recognizes both methods of formation, allowing flexibility in how partners establish their relationship.