Question: Question No. 02 Sajid, Tariq, Usama & Co., a partnership concern is engaged in trading of cloth. The firm bought a plot of land from

Question No. 02

Sajid, Tariq, Usama & Co., a partnership concern is engaged in trading of cloth. The firm bought a plot of land from Three Star Limited. After some time Tariq and Usama on their own account bought three more plots of land in the same locality and made good profits. Sajid on becoming aware of such profits sued Tariq and Usama for his share.

Required: Under the provisions of Partnership Act 1932, explain whether Talha and Umair are liable to share such profits with Sohail.

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