In which of the following cases is the claim legally valid if the partnership agreement/deed is completely silent?
- ASanjay is an active partner and wants a salary of per year.
- BMonika had advanced a loan to the firm and claims interest per annum.
- CSanjay and Monika contributed and as capital respectively and Monika wants equal profit share.
- DMonika wants interest on capital to be credited per annum.
Solution & Step-by-step Explanation
According to the provisions of the Indian Partnership Act, 1932, when the partnership deed is silent:No partner is entitled to any salary or remuneration.Interest on a partner's loan is allowed strictly at a fixed rate of p.a. (making option B invalid).No interest on capital is allowed to any partner.Profits and losses must be shared equally among all partners, regardless of their individual capital contributions.Therefore, Monika's claim for an equal profit share despite unequal capital contribution is fully valid.