The construction of a free solvable P-algebra of finite degree k in the var
iety of all solvable P-algebras of degree at most k (k greater than or equa
l to 1) has been given. Some properties of the same have been studied. The
structure of the free solvable P-algebra has been viewed as a module over a
ring with several objects. The Magnus embedding theorem associated with th
e Fox-derivative in a free group ring has been considered to prove properti
es associated with the partial (Fox) derivative in a free associative ring.
Residual nilpotency and triviality of the center of a free metabelian P-al
gebra has been proved. Various properties of a homomorphism associated with
a free metabelian P-algebra of finite rank have been studied. The non-embe
dding property of a free solvable P-algebra of degree k of higher rank in a
lower rank has also been presented here.