IndigoLearn

Indian Partnership act

If a sub - partner can share the profit of a partner with the consent of all other partner , can he also borne loss?


Deborah Susaiyappan

Deborah Susaiyappan

CA Inter

3K+

12-Sep-20 21:38

24

Answers (2)

Best Answer

A sub partner is a person who is in relation with one of the partner but not with partnership firm. He has no right or obligation with regard to partnership firm. His contract with one of the partner provides him right against share of profit which is received by him from partnership firm. Generally outsider contracts with partner only for profits but not for losses. As he is a stranger for partnership agreement he doesn't have any obligation w.r.t to loss incurred by partnership. Hope it helps!!!


VIJAYA SARADHI MAGANTI

VIJAYA SARADHI MAGANTI

CA Foundation

850

12-Sep-20 23:12

Thank you sir


Deborah Susaiyappan

Deborah Susaiyappan

CA Inter

3K+

12-Sep-20 23:15