Practicing Success
Practicing Success
CUET Preparation Today
| Atal and Lal are partners in a firm with no partnership deed. Atal wants to introduce his son Inder as partner but Lal objects to his proposal. Lal wants that profit should be distributed in ratio of their capitals, but Atal wants that it should be distributed equally. Who is right and wrong in these cases? |
Lal is right in both case Atal is right in both case Lal is wrong in case of admission of partner, but Atal is right in case of distribution of profits. Lal is right in case of admission of partner whereas Atal is right in case of profit distribution. |
| Lal is right in case of admission of partner whereas Atal is right in case of profit distribution. |
| A person cannot be introduced as partner without the consent of all partners. Therefore, Inder cannot be admitted into partnership because Lal objects to it. Profits shall be shared equally between Atal and Lal because in absence of partnership deed profits will be distributed equally. |
