‘Goodwill’ of a partnership firm business is the property of the partnership under section __________…
Section 14 of the Indian Partnership Act, 1932 includes the goodwill of the business in the property of the firm. This operates subject to the contract between the partners,…
Choose your answer
‘Goodwill’ of a partnership firm business is the property of the partnership under section __________ of Partnership Act, 1932.
Answer and explanation
Correct answer A
Section 14 of the Indian Partnership Act, 1932 includes the goodwill of the business in the property of the firm. This operates subject to the contract between the partners, alongside property and rights brought into or acquired for the firm.
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