Question

If there is no express agreement on certain matters, the provisions of the ___________ shall apply, under partnership deed.

• A. Indian Contract Act, 1872
• B. Indian Partnership Act, 1932
• C. Negotiable Instruments Act, 1881
• D. The Stamp Act, 1899

Answer 1

The correct option is B Indian Partnership Act, 1932

Whenever the agreement is in writing, the document, which contains terms of the agreement is called "Partnership Deed". It covers all matters affecting relationship of partners amongst themselves. The provisions of the Indian Partnership Act, 1932 is applied, when there is no express agreement on certain matters.