Following differences have arisen among P,Q and R. State who is correct in following case: P and Q want to purchase goods from A Ltd., R does not agree?
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Solution
Partnership is relation between 2 or more persons sharing profits of the business carried on by them. It is based on a mutual relationship and understanding.
For every decision regarding the partnership business,every partner need to give his/her consent to that effect.If any of the partner disagrees ,then it cannot be enforced.
So, Without the consent of R, P and Q cannot purchase goods from A Ltd.