Partnership is an extension of law of agency, hence _________.

No consideration is required to form a partnership

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Capacity of partners is not an essential requirement

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Partnership agreement can be for social purpose also

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Partnership can be for limited purpose only

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Solution

The correct option is A No consideration is required to form a partnership
In partnership, every partner is working on behalf of other partners, So we can say it is an extension of the law of agency.

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The donations that can be used only for the limited purpose is called ______________

6. With reference to the 'Trans pacific Partnership' ,consider the following statements:

i. It is an agreement among all the Pacific Rim countries except only China and Russia.

ii. It is a strategic alliance for the purpose of maritime security only.

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