Define Partnership
The partnership is defined by Indian Partnership Act, 1932, Section 4, as follows:
“Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all.”
In different way you can also define partnership as given below
‘A Partnership, thus, is a business relationship between/among two or more persons to share profits and losses of the business, carried on by all or any of them acting for all.’
Anurag Pathak Changed status to publish April 4, 2023
