a and b by commodity x and agree to sell the commodity with sharing the prophet equally it is treated as the partnership

Question

Doli · Answer

No , Business is an important element of partnership, here business includes every trade , occupation and profession. The existence of business is essential and the motive of business is acquisition of gain . Since mere buying and selling of a single commodity and sharing the profit doesn't count to business. It is not partnership.

Hitanshi · Answer

Sharing profit does not apply to partnership.

Anant · Answer

As per the Indian Partnership act,1932, partnership is an agreement between two or more persons who have agreed to share profits of a business carried on by all or any one of them acting for all. In this case, A and B agree to sell the commodity for equal share of profit. Therefore,this relationship between A and B will be considered as partnership as there is an agreement between them and profits are being shared, as per The Indian Partnership Act,1932.

Bhumik · Answer

Noo

Gurukiran · Answer

No

a and b by commodity x and agree to sell the commodity with sharing the prophet equally it is treated as the partnership

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