Which is not usually included / mentioned in the contents of the Partnership Deed?
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → Date on which the Partnership firm will be dissolved
A partnership deed is the written agreement among the partners. It records who the partners are, how the firm starts and how its profits, capital and the partners’ rights are dealt with, including what happens on a change in the firm or on its closure. What it does not fix in advance is a date on which the firm will be dissolved: a firm may run for an unlimited period, and dissolution depends on later events and the partners’ decisions.
Option (1) All partners’ residential addresses and their names — A usual content of the deed. The deed names all partners with their addresses.
Option (2) Partnership commencement Date — A usual content of the deed. The date of commencement of the partnership is stated.
Option (3) Ratio in which Profit/ Loss will be shared among the partners — A usual content of the deed. The profit and loss sharing ratio is one of its main clauses.
NCERT (2026-27 edition):
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