Question

S a partner in AB and Sons has transferred his interest in the firm to D. Is the transfer correct?

• A. No
• B. Yes
• C. D will decide
• D. Court will decide

Answer 1

Answer: (B)

Yes

According to Section $29$ of the Indian Partnership Act, $1932$ a partner may transfer his interest in the firm by sale, mortgage or change. The transfer may be absolute or partial. The transfer donot provide transfree to interfere in the working of the organization, he has the right to share of profit only.