Partnership can be formed according to the nature of the agreement amongst partners. Explain.

According to the nature of agreement among partners, there can be three types of partnership as follows: Partnership at will: Such as partnership exists on the will of the partners i.e., it can be brought to an end whenever any partner gives notice of his intention to do so. Particular partnership: A particular partnership is formed for undertaking a particular venture. It comes to an end automatically with the completion of the venture. Partnership for a fixed duration: Such partnership is for a fixed period of time.