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Question

The Partnership deed should be properly drafted and prepared as per the provisions of the _________ and preferably registered with the Registrar of firms.

A
Contract act
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B
Stamp act
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C
Partnership act
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D
Both A and B
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Solution

The correct option is B Stamp act
Partnership comes into existence as a result of agreement among the partners. The clauses of partnership deed can be altered with the consent of all the partners. As per the provisions of the 'Stamp Act', the deed should be properly drafted and prepared and preferably registered with the Registrar of Firms.

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