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    Question

    The relation of Partnership arises from

    : 
    A Status Correct Answer Incorrect Answer
    B Contract Correct Answer Incorrect Answer
    C Family business Correct Answer Incorrect Answer
    D All of the above Correct Answer Incorrect Answer

    Solution

     Indian Partnership Act: Section 5 Partnership not created by status: The relation of partnership arises from contract and not from status and, in particular, the members of a Hindu undivided family carrying on a family business as such, or a Burmese Buddhist husband and wife carrying on business as such are not partners in such business.

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