Question

X and Y formed a partnership firm to undertake construction of a Railway Bridge for Northern Railways at a Patna.This partnership is __________.

• A. Limited Partnership
• B. Partnership at will
• C. Particular partnership
• D. Joint venture

Answer 1

Answer: (C)

Particular partnership

When the partnership is formed only to carry out one business venture or one undertaking it is called Particular Partnership, after which the partnership shall be dissolved, unless otherwise specified.Here, undertaking construction of a Railway Bridge for Northern Railways at Patna is a single business venture, hence 'Particular Partnership'.

However, partners can still continue with their said partnership, on mutual agreement. But in absence of any agreement, on completion of task the partnership shall end.