The business must also be operated by all of the partners, or by any one of them acting on their behalf. A number of transactions are necessary for business operation. One solitary purchase and sale by a few people is not enough to constitute the business being operated.
For instance, if A and B jointly spend Rs. 2,00,000 on a building, they later sell it for Rs. 3,00,000 and split the profit of Rs. 1,00,000 equally. As this transaction does not represent the continuation of A and B’s business relationship, they are not partners. There is, however, a possibility that the partners may engage in a single adventure or a single undertaking and that may involve the carrying on of a business. If you want to be a judicial officer and are looking for best RJS coaching in Jaipur, here, at Jyoti Judiciary we provide comprehensive study material to make your preparation solidified and topnotch. From preliminary mock tests, to mains answer writing sessions every material required for clearing the exam is provided. We have separate legal current affairs classes, legal general knowledge, current affairs classes all in one time enrolment. Hurry up.
