A new partner can be admitted only with the __________.
A
Majority decision
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
Unanimous decision of all the partners
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
C
Approval of registrar of firms
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
Consent of managing partner
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution
The correct option is A Unanimous decision of all the partners Only a unanimous decision of all the partners can let the new partner in the firm.
As per the Indian partnership Act, 1932, it is imperative for all the partners to give their consent to introduce a new partner; which requires either making changes in the existing partnership deed or preparing a new deed altogether.