X and. Y who jointly own a house, converted that house into a hotel after investing Rs. 1,00,000 each. it was agreed that X would manage the hotel on his own behalf and on behalf of Y and the net earnings would be divided equally. Can X and Y be regarded as partners?

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Solution

Solution: Section to which the given problem relates: Section 4.
Decision: Yes.
Reason: All the essential. elements of partnership exist.

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X and. Y who jointly own a house, converted that house into a hotel after investing Rs. 1,00,000 each. it was agreed that X would manage the hotel on his own behalf and on behalf of Y and the net earnings would be divided equally. Can X and Y be regarded as partners?

Solution: Section to which the given problem relates: Section 4.Decision: Yes.Reason: All the essential. elements of partnership exist.

Solution: Section to which the given problem relates: Section 4.
Decision: Yes.
Reason: All the essential. elements of partnership exist.