Question
A,B and C are partners having capitals of Rs.3,00,000,Rs.2,00,000 and Rs.1,00,000. They admit D as a partner for 1/5th share on 1stApril,2018. On this day, the firm has reserve of Rs.60,000. A and B demand that reserve should be shared in proportion of capital whereas C is of the opinion that it should be shared equally as they do not have partnership deed. A and B agree to C′s viewpoint.
What argument must have been put by C that convinced both A and B?