Multiple choice

A partnership for which no period or duration is fixed, under the Indian Partnership Act, 1932 is known as

  1. general partnership

  2. partnership at will

  3. particular partnership

  4. co-ownership
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Under Section 7 of the Indian Partnership Act, 1932, a partnership where no fixed duration is specified is called a 'partnership at will'. This means either partner can dissolve the firm by giving proper notice. A general partnership refers to the broader category, a particular partnership is for a specific venture or transaction, and co-ownership is a distinct legal concept involving joint property ownership without mutual agency.

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