alleryStart learning →Co-owners sharing profits from jointly held property are what?
APartners in a firm
BPartners at will
CParticular partners
DNot partners of itself
Answer & Solution
Correct answer: D. Not partners of itself
Explanation 1 to Section 6 states that sharing profits from jointly owned property does not of itself make owners partners.
Keep practising Partnership
Browse all Partnership questions for CA Foundation, or explore more Businesslaw topics.
Related questions
A fixed-term firm carrying on after expiry takes the incidents of what?While settling accounts after dissolution, goodwill is treated as what?A partner rescinding for fraud ranks as what regarding debt payments he made?No premium refund follows when dissolution is mainly due to what?After dissolution, a partner's authority continues for what purpose?Which is repaid first among partners after outside debts?Settling accounts after dissolution, firm assets first pay what?Public notice of a registered firm's dissolution includes which publication?