Maharashtra State BoardHSC Commerce 12th Board Exam
Advertisement Remove all ads

What is the Relationship Between Co-venturers? - Book Keeping and Accountancy

What is the relationship between co-venturers?

Advertisement Remove all ads

Solution

Co-venturers’ act on the principle of mutual agency. There exists a principal and agent relationship among the co-venturers in a joint venture. They may bind the other co-venturers by their acts and as a principal, they shall be bound by the acts of the other co-venturers.

Concept: Meaning and Definitions of Partnership and Partnership Deed
  Is there an error in this question or solution?
Advertisement Remove all ads

APPEARS IN

Advertisement Remove all ads
Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×