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Under the Indian Partnership Act, 1932, registration of a firm is:
ACompulsory, with a penalty for non-registration
BCompulsory only for trading firms
CRequired before the firm can be formed
DOptional, but non-registration carries certain disabilities
Answer & Solution
Correct answer: D. Optional, but non-registration carries certain disabilities
Unlike English law, the Act does not make registration compulsory or impose a penalty, but Section 69 attaches significant disabilities to an unregistered firm.
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