Multiple choice

According to section 31 of the Partnership Act, a new partner can be introduced or admitted into a firm

  1. by the consent of all the partners

  2. by the consent of all the partners, but subject to contract between the partners

  3. by the consent of all the partners, but subject to the contract between the partners and to the provisions of section 30

  4. by the consent of majority of the partners, but subject to contract between the partners and to the provisions of section 30

  5. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Section 31 of the Partnership Act clearly states that subject to the contract between the partners and to the provisions of section 30 of the act, no person shall be introduced as a partner into a firm without the consent of all the existing partners.

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