Q: What authority is provided to partner by partnership at will ?
Ans: According to section 7 of partnership act, 1932, when no provision is made by contract between the partners for the duration of their partnership or for the determination of their partnership, the partnership is "partnership at will". It means that the duration of partnership will depend upon the will of the partners.
Partnership at will provides all partners the authority to dissolve the firm by notice according to section 43 of partnership act, 1932.
Comments
Post a Comment