Multiple choice

________ is the essential feature for formation of partnership.

  1. Agreement

  2. Memorandum

  3. Relation

  4. All of above
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A Correct answer
Explanation

Existence of an agreement is essential of partnership. Such an agreement between the partners may be express or implied. Further, the agreement should be valid and must be for a lawful object, purpose and between the persons competent to contract.

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