A stipulation which excludes one or more partners from any share in the profits or losses is valid.Group of answer choicesTrueFalse

The statement regarding a stipulation that excludes one or more partners from any share in profits or losses is valid is False.

In general partnership law, excluding a partner from sharing in profits and losses is not permissible unless all partners agree to such a stipulation. Each partner typically has the right to share in both the profits and losses of the partnership as a fundamental aspect of the partnership agreement, unless otherwise specified in a valid and mutually agreed-upon arrangement. Any stipulation that contravenes this principle may be seen as invalid and unenforceable.

Therefore, making such exclusions can lead to legal complications and questions about the validity of the partnership agreement itself. It is essential for partners to clearly outline their obligations and entitlements in a partnership agreement to avoid misunderstandings.