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Question
Which of the following partners are not liable in relation to the firm?
Which of the following partners are not liable in relation to the firm?
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Solution
The correct option is D Sub-partner
When a partner of the firm agrees to share his own share of
profits with an outsider then it is called sub-partners. They have no rights in
the firms' business they just have share in the firms profit or loss and
therefore other partners are not bound by the sub-partners act.
When a partner of the firm agrees to share his own share of profits with an outsider then it is called sub-partners. They have no rights in the firms' business they just have share in the firms profit or loss and therefore other partners are not bound by the sub-partners act.
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