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A group of 40 people want to form a partnership firm. They want your advice regarding the maximum number of persons that can be

  

A group of 40 people want to form a partnership firm. They want your advice regarding the maximum number of persons that can be there in a partnership firm and name of the Act under whose provision it is given. Pratibha, partner of a firm, has advanced loan to the firm of Rs.1,00,000. The firm does not have a Partnership Deed. Will Pratibha get interest on the loan? If yes, at which rate and why?

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