Subject to a contract between the partners, the firm shall indemnify a partner is respect to payments made and liabilities incurred by him.

A. In the ordinary and proper conduct of the business

B. In doing such act, in an emergency, for the purpose of protecting the firm form loss, as would be done by a person of ordinary prudence, in his won case, under similar circumstances

C. Both A and B

D. None of the above

Answer: Option C