Which of the following is not an essential requisite of a partnership contract?

Prepare for your Partnership and Corporation Exam with engaging flashcards and multiple-choice questions. Each question comes with hints and detailed explanations. Boost your confidence and ace the exam!

In the context of partnership contracts, the essential requisites typically include components that are necessary for the partnership's formation and operation. A partnership is fundamentally a collaborative effort aimed at mutual benefit, which inherently involves sharing profits and contributions toward a common fund. Additionally, the partnership must have a lawful object to ensure that its activities comply with legal standards.

The notion of keeping articles secret among members is not a requisite for forming a partnership. In fact, transparency among partners is generally preferred, as it fosters trust and allows for better management of the partnership. While confidentiality may be important in certain circumstances, it does not constitute an essential element of a partnership agreement. The other requisites – common benefit, profit sharing, mutual contributions, and lawful objectives – are vital to the very nature and legality of the partnership arrangement.

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