Examveda
Examveda

Under section 37(2) of the Indian Partnership Act, 1932, on exercise of option to purchase the share of the outgoing partner under an agreement between the partners resulting in the right of the outgoing partner to receive the share of profits or interest on the unpaid capital to cease, such right of the outgoing partner

A. Can be revised at the option of the outgoing partner at any time

B. Can be revived in case default is made by the opting partners in fulfilling the terms of the agreement

C. Cannot be revised under any circumstances

D. Either (A) or (B)

Answer: Option B


This Question Belongs to Law >> Indian Partnership Act

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