Question:
Write two main rights acquired by the new partner.
Write two main rights acquired by the new partner.
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When a new partner is admitted, their rights are defined in the partnership agreement, ensuring clarity and fairness among all partners.
Updated On: Nov 5, 2025
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Solution and Explanation
The two main rights acquired by a new partner in a partnership firm are:
1. Right to share profits: The new partner is entitled to a share in the firm's profits as per the agreement among the partners.
2. Right to participate in management: The new partner gains the right to take part in the decision-making and management of the firm.
1. Right to share profits: The new partner is entitled to a share in the firm's profits as per the agreement among the partners.
2. Right to participate in management: The new partner gains the right to take part in the decision-making and management of the firm.
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