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easyMCQCUET Accountancy 2023 20 June Shift 22026Accountancy
1 mark

Identify the required condition under which the clauses of a partnership deed can be modified or altered.

  1. A
    On the basis of a simple majority of the partners' consent
  2. B
    On the basis of the Registrar of Companies' explicit consent
  3. C
    On the basis of the unanimous consent of all partners
  4. D
    The clauses of a partnership deed can never be modified under any scenario

Solution & Step-by-step Explanation

A partnership is built on mutual trust and agreement among its members. Therefore, under the Indian Partnership Act, 1932, any amendment, deletion, or modification to the terms of a partnership deed requires the \textbf{unanimous consent of all partners}, unless the deed itself specifies a different approval process.

Practice this question

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Identify the required condition under which the clauses of a partnership deed can be modified or altered.
A
On the basis of a simple majority of the partners' consent
B
On the basis of the Registrar of Companies' explicit consent
C
On the basis of the unanimous consent of all partners
D
The clauses of a partnership deed can never be modified under any scenario

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