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
