Question

Suppose you have entered into a partnership agreement with me and the partnership-deed provides neither for the duration nor for the determination of our partnership. What is the technical expression for this kind of partnership?

• A. Partnership for a fixed term.
• B. Partnership at will.
• C. Particular Partnership.
• D. Any of these.

Answer 1

The correct option is B Partnership at will.

A partnership at will is one which does not provide for how long the business will continue. It is basically a partnership where partners have not agreed to remain in partnership until a definite fixed term. The partnership can be dissolved at any time without any liability on the partners.