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प्रश्न
State Whether the following Statement is True or False:
It is compulsory to have a partnership agreement in writing.
चूक किंवा बरोबर
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उत्तर
The statement is false.
Explanation:
Under the Indian Partnership Act, 1932, a partnership agreement does not have to be in writing. A partnership can be created through an oral agreement as well. However, having a written partnership deed is strongly recommended because it helps clearly define the rights, duties, profit-sharing ratio, and other terms, reducing the likelihood of disputes.
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