Directions: Choose the correct option for the given question:

Consider the following statements: In the absence of an agreement, a partner of a firm has the right to

1. Claim remuneration for taking part in the management
2. Take part in the conduct and management of business
3. Share the profits of the firm equally with other partners
4. Pledge partnership property as a security for his own private debts Which of the statements given above is/are correct?

Under the Indian Partnership Act 1932, in the absence of an agreement, a partner has the right to participate in the conduct and management of the business (Statement 2) and share profits equally with other partners (Statement 3). A partner cannot claim remuneration for management (Statement 1) without an agreement, and cannot pledge partnership property for personal debts (Statement 4) - that would require specific authority. Therefore, only statements 2 and 3 are correct.