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Partner's Capital Account Adjustments(Death)

Where no prov...

Question

Where no provision is made by contract between the partner for duration of partnership or determination of their partnership is called ____________ .

A

Partnership at will

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B

Partnership for fix term

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C

Particular partnership

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D

None

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Solution

The correct option is B Partnership at will
In case of Partnership at will, it can be dissolved at any time by any partner without any liability.There is no fixed term/duration of the partnership.
As per the given question, when no provision is made by contract for duration, it clearly refers to Partnership at will.

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