CHAPTER II THE NATURE OF PARTNERSHIP
The Indian Partnership Act, 1932
“Partnership” is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all.
Persons who have entered into partnership with one another are called individually “partners” and collectively “a firm”, and the name under which their business is carried on is called the “firm name”.
1 question in 3 of our papers cite Section 4. Try these from the free papers:
1. In the definition of "partnership" in Section 4 of the Indian Partnership Act, 1932, the requirement that the business be "carried on by all or any of them acting for all" expresses the element of: