Assertion (A): If there are eight partners in a firm, a new partner cannot be admitted even if one partner does not agree to this. Reason (R): A new partner can be admitted if the majority of partners agree on his admission. In the context of the above two statements, which of the following is correct?

Question

KollegeApply · Accepted Answer

(A) is correct, but (R) is incorrect. Explanation: Assertion (A) is correct because the Indian Partnership Act, 1932, requires the unanimous consent of all existing partners to admit a new partner. Even a single dissenting partner can prevent the admission. Reason (R) is incorrect because a mere majority agreement is not sufficient under the general law; full consensus is the required standard, unless the partnership deed specifically states otherwise.

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