Multiple choice

Section 29 of the Partnership Act lays down the rights of the transferee of a partner’s interest. Which of the following is/are inclded in these rights?

  1. Right to be a partner in the firm

  2. Right to interfere in the conduct of the business of the firm

  3. Right to inspect the books of the firm

  4. Right to receive the share of profits of the transferring partner

  5. All of the above

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

A transferee is only entitled to receive the share of profits of the transferring partner and the transferee shall accept the account of profits agreed to by the partners.