Can a family business carried on by an undivided Hindu family be called partnership?
A joint Hindu family business arises from status/birth, not from an agreement, so the answer is "No as the business is not an outcome of an agreement" (partnership requires…
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Can a family business carried on by an undivided Hindu family be called partnership?
Answer and explanation
Correct answer D
A joint Hindu family business arises from status/birth, not from an agreement, so the answer is "No as the business is not an outcome of an agreement" (partnership requires a contract, s.5).
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