Which section of the Partnership Act 1932, defines partnership?

The correct answer is option 1- Section 4.

Section 4 of the Partnership Act 1932, defines partnership.

When two or more persons join hands to set up a business and share its profits and losses, they are said to be in partnership. Section 4 of the Indian Partnership Act 1932 defines partnership as the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all’.