Practicing Success
A New Partner may be admitted into a partnership: |
With the consent of 2/3rd of old partners With the consent of all old partners With the consent of anyone partner With the consent of a majority of partners |
With the consent of all old partners |
As per the Partnership Act, 1932, a new partner can be admitted into the firm with the consent of all the existing partners, unless otherwise agreed upon. With the admission of a new partner, there is a reconstitution of the partnership firm and all the partners get into a new agreement for carrying out the business of the firm. |