CA FoundationPartnership Act 1932 - existence of partnership
Can you check my answer on whether a partnership exists and allot marks to it?
BrunoAI answer
Good answer! I'd give about 1.5 out of 2 (an ICAI examiner may vary). What's right: - Correct Section 4 definition and the three essentials. - Facts applied, with a clear conclusion: no partnership. What cost marks: 1. You don't say why there is no profit sharing. Add: 5% of the contract amount is fixed commission (remuneration), not a share of profits. 2. Add: Roop Singh bears no risk or loss (Manak bears all costs) and cannot bind Manak. 3. Skip the struck-out Section 6 line, or use it to support point 1. Also write "Roop Singh" in full. See note 5 for past-year law answers.
Read full answer →
1 answer 15 Nov 2026
