Mr A and Mr B jointly own a taxi which they use for personal use on Sunday. For other days they hire the taxi and share profit equally. Can they be called as partners as per Indian Partnership Act ?

Question

Viren · Answer

Yes if they have a certain conditions decided before start taxi used, According to indian partnership act. If two persons come together for making profit and share together and they have particular business or kind of some vehicles for helping to making profit for that's partners then it called partnership

Tina · Answer

Partnership is when there is written agreement and partners aree ready to share equally profit in this case there is no written agreement only they share equally profit and they purchase taxi for there personal use

Aditi · Answer

Because they are co owners of taxi and they use same for personal use as well

Tina · Answer

I think no they are not partners because they purchase the taxi for there personal use there is no written agreement between them.

Aditi · Answer

No

Mr A and Mr B jointly own a taxi which they use for personal use on Sunday. For other days they hire the taxi and share profit equally. Can they be called as partners as per Indian Partnership Act ?

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