Site navigation

In the absence of an agreement to the contrary, which of the following is not a partner's right under…

Under Sections 12 and 13 of the Indian Partnership Act, 1932, subject to contract between the partners: (1) every partner has a right to take part in the conduct of the…

Choose your answer

In the absence of an agreement to the contrary, which of the following is not a partner's right under the Indian Partnership Act, 1932?

Select one answer
Answer and explanation

Correct answer D

Under Sections 12 and 13 of the Indian Partnership Act, 1932, subject to contract between the partners: (1) every partner has a right to take part in the conduct of the business (Section 12(a)); (2) every partner has a right to have access to and to inspect and copy any of the books of the firm (Section 12(d)); and (3) partners are entitled to share equally in the profits earned (Section 13(b)). However, Section 13(a) expressly provides that a partner is not entitled to receive remuneration for taking part in the conduct of the business unless there is an agreement to that effect.

Option feedback

Option A

Section 12(a) gives every partner the right to participate in the business, subject to the partners' contract.

Option B

Section 12(d) gives every partner access to the firm's books, including the right to inspect and copy them, subject to the partners' contract.

Option C

Section 13(b) entitles partners to equal shares of profits unless their contract provides otherwise.

Option D

Under section 13(a), a partner is not entitled to remuneration for participating in the business unless the partners agree otherwise.

Practice for these exams

Related exam syllabi

Related questions in this topic