A, B, and C were partners in a partnership firm. Upon the death of partner A, the remaining partners B…
Receipt of a share of profits does not by itself make a person a partner (s.6); a deceased partner's widow paid maintenance out of profits, without any agreement to become a…
Choose your answer
A, B, and C were partners in a partnership firm. Upon the death of partner A, the remaining partners B and C continue the business of the partnership firm. They maintained A's widow by giving her a share out of the profits. In the absence of any other agreement, what is the status of A's widow in the partnership firm?
Answer and explanation
Correct answer C
Receipt of a share of profits does not by itself make a person a partner (s.6); a deceased partner's widow paid maintenance out of profits, without any agreement to become a partner, is a mere "Beneficiary", not a "Partner".
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