Multiple choice

A new partner can be admitted in the firm with the consent of

  1. all the partners

  2. simple majority of partners

  3. special majority of partners

  4. new partner only

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

Admission of a new partner fundamentally alters the partnership relationship and requires the unanimous consent of all existing partners under the Indian Partnership Act, 1932. This ensures all partners agree to share profits and liabilities with the new member.