Examveda
Examveda

A' has lent money to 'P & Q' firm engaged in the cement business and has agreed to take in addition to, or in place of his interest, a portion of the profits of the firm business. It can be said that

A. A' is a partner as well as a creditor of the 'P & Q' firm

B. A' is a partner in 'P & Q' firm

C. A' is not a partner in the 'P & Q' firm

D. None of these

Answer: Option C


This Question Belongs to Law >> Indian Partnership Act

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