Section 7 of IPA : Section 7: Partnership At Will

IPA

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Explanation using Example

Imagine Rita, John, and Suresh decide to start a business together selling handmade candles. They verbally agree to share the profits and work together, but they don't discuss how long they plan to be in business together or under what conditions they might end the partnership. Since they haven't set any terms for the duration or determination of their partnership, their business is considered a "partnership at will" under the Indian Partnership Act, 1932. This means any partner can decide to leave the partnership at any time, without needing a specific reason or event to do so.

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