Multiple choice

A new partner can be admitted in the firm with the consent of

  1. all the partners

  2. simple majority of partners

  3. special majority of partners

  4. new partner only

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

Option (1) is correct: U/s 31 of the Act, subject to contract between the partners, no person shall be introduced as a partner into a firm without the consent of all the existing partners.