An agreement without mentioning the terms of its existence is dealt under the Partnership Act, 1932…

Under Section 7 of the Indian Partnership Act, 1932, where 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 a “partnership at will”. Section 4 defines “partnership”, “partner”, “firm”, and “firm name”; Section 5 clarifies that the relation of partnership arises from contract and not from status; and Section 6 sets out the mode of determining the existence of a partnership by regard to the real relation between the parties.