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What is Particular Partnership?
11. What is Particular Partnership?
- Form of business partnership where there is no fixed term agreed for the duration of the partnership.
- Partnership in which some or all partners can exhibit elements of partnerships and corporations.
- Form of partnership under common law.
- A partnership was formed for a single transaction.
Answer: D) A partnership was formed for a single transaction
Explanation:
A partnership can be shaped for carrying on persistent business, or it tends to be framed for one specific endeavour or undertaking. If the association is framed uniquely to do one undertaking or to finish one endeavour such an organization is known as a specific association.