Multiple choice

Partnership

  1. arises by operation of law

  2. comes into existence only after registration

  3. can arise by agreement or otherwise

  4. arise by way of an agreement only
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Partnership under the Indian Partnership Act, 1932 arises ONLY from an agreement between parties (express or implied). It does not arise by operation of law (unlike a company). Registration provides certain protections but is not required for partnership formation.

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