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Vinod and yuvraj are partners in …

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Vinod and yuvraj are partners in a firm without a partnership deed.vinods capital is rs10000 and yuvrajs capital is rs14000. Yuvraj has advanced a loan of rs5000 and claims intrest @12%p.a.on it .state with reasons whether his claim valid or not?
  • 2 answers

Ravi Rajput 7 years, 5 months ago

No he is wrong because in absence of partnership deed , interest on loan is agreed 6%pa according to provision of partnership act 1932

Rahul Singh 7 years, 5 months ago

No,Yuvraj is wrong he only get 6% PA because partnership act 2013 stated without any partnership deed only 6% int payable on partner loan.
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