Question

A new partner can be admitted only with the consent of all the existing partners according to __________.

• A. Section $31\left(1\right)$ of the Indian Partnership Act, $1932$
• B. Selection $21\left(1\right)$ of the Indian Partnership Act, $1932$
• C. Section $31\left(2\right)$ of the Indian Partnership Act, $1932$
• D. Section $31\left(3\right)$ of the Indian Partnership Act, $1932$

Answer 1

Answer: (A)

Section $31\left(1\right)$ of the Indian Partnership Act, $1932$

Section 31(1) of the Indian Partnership Act,1932 deals with the provisions of admission of a new partner in the partnership firm. According to it, a new partner can be admitted only with the consent of all the existing partners in the firm.