Is it necessary for all the partners to borne deficiency to meet the condition of guaranteed profit to the other partner?

Yes No Depend on the partner Clause of the partnership deed followed

Clause of the partnership deed followed

Sometimes a partner is admitted into the firm with a guarantee of certain minimum amount by way of his share of profits of the firm. Such assurance may be given by all the old partners in a certain ratio or by any of the old partners, individually to the new partner. The minimum guaranteed amount shall be paid to such new partner when his share of profit as per the profit sharing ratio is less than the guaranteed amount.