When two or more persons agree to do business in a particular adventure or undertaking, such a partnership is called _________.

Partnership at will

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Particular partnership

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Partnership fixed duration

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None of the above

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Solution

The correct option is B Particular partnership
A partnership basically refers to the contract between two or more people who have agreed to carry on certain business in order to achieve common goals. The partnership can be started for a specific purpose or adventure and stand dissolved after the completion of the purpose or adventure. Such a type of partnership is known as particular partnership.

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A partnership is based on a ___ contract between two persons, who agree to share profits and losses of a business.

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