Question
Answer the following: a) X and y jointly own a ship, which is entirely operated by X .X alone does all its expenses and Y
Answer the following:
a) X and y jointly own a ship, which is entirely operated by X .X alone does all its expenses and Y contribute nothing .one third of the annual net earnings is passed over by X to y. Is it a relationship of partnership between X and Y.
b) Amit and Barun acquire a coffee shop and incur additional expenses for purchasing stylish crockery, Renovation etc., Each contributing half of the total expense and the shop is leased out on a daily rent, Which is divided between both of them. Does this arrangement constitute a partnership between Amit and Barun.
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