Any immovable property or an interest therein may be acquired in the partnership name. Group of answer choicesTrueFalse

Understanding the Concept

In partnership law, the ability of a partnership to acquire immovable property (real estate) or interests in such property often hinges on the partnership agreement and the authority of the partners.

Legal Framework

1. Partnership Agreement: This document outlines the powers and responsibilities of the partners in managing the partnership's assets.
2. Authority of Partners: Generally, partners have the authority to bind the partnership to real estate transactions, but this authority may be limited by the partnership agreement.

Analysis

1. If the partnership agreement explicitly allows for the acquisition of immovable property, then such transactions can take place in the partnership's name.
2. Conversely, if the agreement restricts such acquisitions, then acquiring immovable property in the partnership's name would not be permitted.

Conclusion

Based on standard interpretations of partnership law, the statement that "any immovable property or an interest therein may be acquired in the partnership name" is generally True, assuming no restrictions exist in the partnership agreement.

Final Answer: True