CA Foundation doubt
Sharing profit is not conclusive evidence in partnership
Asked by Ram7 Jun 2024258 views
2 answers
Tripathiji · 7 Jun 2024
Mutual Agency is the Conclusive evidence in partnership, where every partner is principal and agent for each other .
Mayank · 7 Jun 2024
It is not consider as evidence because there are cases of profit sharing still contradictory to partnership. Example - if share of profit given to minor of a deceased partner does not make him as a partner.
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