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Class 12 Exam  >  Class 12 Questions  >  Assertion (A): The relation of partnership ar... Start Learning for Free
Assertion (A): The relation of partnership arises from contract and not from status.
Reason (R): The business of partnership can be carried on by all the partners or any one of them acting for all.
  • a)
    Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).
  • b)
    Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A). 
  • c)
    Assertion (A) is true but reason (R) is false. 
  • d)
    Assertion (A) is false but reason (R) is true.
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
Assertion (A): The relation of partnership arises from contract and no...
Partnership is the result of a contract. It does not arise from status, operation of law or inheritance.
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Assertion (A): The relation of partnership arises from contract and no...
Assertion (A): The relation of partnership arises from contract and not from status.

Partnership is a form of business organization where two or more individuals come together to carry on a business for profit. The relation of partnership is primarily based on a contract between the partners. In a partnership, the partners enter into an agreement, known as a partnership deed, which outlines the terms and conditions of their partnership. This contract governs the rights, duties, and obligations of the partners, as well as the rules for the operation and management of the partnership. Therefore, it can be asserted that the relation of partnership arises from contract and not from status.

Reason (R): The business of partnership can be carried on by all the partners or any one of them acting for all.

In a partnership, the business can be carried on by all the partners collectively or by any one of them acting on behalf of all. This is known as the principle of mutual agency, which is a distinctive feature of a partnership. According to this principle, each partner is both an agent and a principal. As an agent, a partner can bind the partnership and the other partners by their actions within the scope of the partnership business. As a principal, a partner is bound by the actions of the other partners in the course of the partnership business. This means that any partner can enter into contracts, make decisions, and conduct business transactions on behalf of the partnership and the other partners. Therefore, it can be concluded that the business of partnership can be carried on by all the partners or any one of them acting for all.

Explanation:
The assertion (A) states that the relation of partnership arises from contract and not from status. This is true because partnership is a contractual relationship where the partners voluntarily agree to enter into a partnership and define their rights and responsibilities through a partnership deed.

The reason (R) given is that the business of partnership can be carried on by all the partners or any one of them acting for all. This is also true because of the principle of mutual agency in partnership. Each partner is both an agent and a principal, which allows them to act on behalf of the partnership and bind the partnership by their actions.

The reason (R) provides an explanation for the assertion (A) as it shows how the contractual relationship of partnership allows the partners to carry on the business collectively or individually. Therefore, both the assertion (A) and reason (R) are true.

However, reason (R) is not the correct explanation of assertion (A) as it does not directly relate to the fact that the relation of partnership arises from contract. The reason (R) explains the operational aspect of partnership but does not provide a justification for why the relation of partnership is based on contract. Hence, option B is the correct answer.
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Assertion (A): The relation of partnership arises from contract and not from status.Reason (R): The business of partnership can be carried on by all the partners or any one of them acting for all.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'B'. Can you explain this answer?
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