MCQs · Q5
Q.A partnership formed with no fixed duration agreed between the partners, and with no provision made for how it is to be determined, is called:
(A) A Particular Partnership
(B) A Limited Liability Partnership
(C) A Partnership at Will (Section 7)
(D) A Statutory Partnership
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Start your 14-day free trial to unlock the full solution →Why (C) is correct: Section 7 defines a Partnership at Will as one where no fixed period has been agreed for the duration of the partnership, and no provision is made for its determination in any other way — such a partnership may be dissolved by any partner giving notice in writing to all the others.
Why the distractors are wrong:
- (A) A Particular Partnership (Section 8) is formed for one specific undertaking or adventure and dissolves automatically on its completion — the opposite of the open-ended situation described in the question. …
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