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In which firm the agreement is Oral or Written?
11. In which firm the agreement is Oral or Written?
- Partnership
- Sole Proprietorship
- HUF
- Co-operative Society
Answer: A) Partnership
Explanation:
A partnership is an agreement between two or more persons who decided to do business and share its profits and losses. To have a legal relationship between the partners, the partnership agreement becomes the basis. The agreement can be in written form or oral form. An oral agreement is equally valid.