Shailja Tiwari 09 April 2020

question related to partnership

partnership is_
a) company
b) agency
c)mutual agency
d)firm
please answer this question with explaination

Quick Summary

This discussion clarifies the definition of a partnership, highlighting that it is fundamentally based on mutual agency. This means each partner acts as an agent for their co-partners within the business. The leading legal authority, Cox v. Hickman, supports this view, emphasizing mutual agency over mere profit sharing as the true test of a partnership.

2 Replies

kritika 09 April 2020

mutual agency because in a partnership business every partner is agent of his copartner.definition under section 4 ,itself makes it clear by using expression-"any one of them acting for all".Cox v. Hickman is leading authority which lays the test of partnership which is based on mutual agency nd not mere profit sharing

2 Like

N. Sivaprakash, Chennai 984099 (Advocate) 09 April 2020

Its a mutual agency.