The relation of partnership according to Section 5 of Indian Partnership Act, 1932 arises from
Section 5 states that partnership arises from contract rather than status. Personal or family relationships alone do not create it; the agreement must satisfy the…
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The relation of partnership according to Section 5 of Indian Partnership Act, 1932 arises from
Answer and explanation
Correct answer B
Section 5 states that partnership arises from contract rather than status. Personal or family relationships alone do not create it; the agreement must satisfy the partnership relation described in section 4.
Option feedback
Option A
Status alone does not create partnership.
Option B
Section 5 expressly identifies contract.
Option C
Friendship alone is not the necessary agreement.
Option D
Unilateral designation is insufficient.
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