Indian Partnership Act — Part 2 MCQs with Explanations

Joint promisors is the correct answer to “The position of the partners, with respect to their liability for the acts of the firm, under section 25 of the Indian Partnership Act, 1932 is equated with”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Binds the firm is the correct answer to “Under section 19(1) of the Partnership Act, 1932, the acts of a partner which are done to carry on, in usual way, business of the kind carried on by the firm”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Contract between the Partners subject to the provisions of the Act is the correct answer to “According to Section 11 of the Act, the mutual rights and duties of partners may be determined by”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Continue as partners and liable for transaction is the correct answer to “If a suit is filed for recovery and transaction is made subsequent to retirement of partners from firm but plaintiff is not aware of that fact then the partners”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Either (A) or (B) or (C) is the correct answer to “The principles contained in section 37 of the Indian Partnership Act, 1932, apply where a partner ceases to be a partner by”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Any partner, other than the partner who has become permanently incapable is the correct answer to “A suit for dissolution of a firm on the ground of permanent incapability of a partner, under section 44(b) of the Act can be filed by”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Dissolution between all the partners of the firm is the correct answer to “Section 39 of the Indian Partnership Act, 1932, defines dissolution of a firm as”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Retirement of a partner is the correct answer to “Section 32 of the Indian Partnership Act, 1932, deals with”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Both (A) and (B) is the correct answer to “Section 12(c) of the Indian Partnership Act provides for a”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Incompetent to sue the firm for account or payment of his share either of profits or property of the firm is the correct answer to “So long as a minor remains admitted to the benefits of the firm under section 30(4)of the Act, the minor is”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Either (A) or (B) or (C) is the correct answer to “A partner can retire from a partnership by”. This question is standard in competitive examination syllabi for Indian Partnership Act.

No but can be admitted to the benefits partnership is the correct answer to “Can a minor be a partner of a firm”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Relevant and create estoppel is the correct answer to “Admission made by a partner, in connection with the affairs of the firm and in the ordinary course of business of the firm, by virtue of section 23 of the Indian Partnership Act, 1932, are”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Is lost if the contract is not repudiated within a reasonable time of discovery of fraud is the correct answer to “The right to rescind the contract of partnership”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Payment of firm debts in priority to payment of separate debts of the partners out of the partnership assets is the correct answer to “Section 49 of the Indian Partnership Act, 1932 provides for”. This question is standard in competitive examination syllabi for Indian Partnership Act.

6% per annum is the correct answer to “In the absence of any agreement, the interest to partners on the amount of loan advanced to the firm, is allowed at”. This question is standard in competitive examination syllabi for Indian Partnership Act.

On which the notice is communicated is the correct answer to “Where the notice of dissolution of the firm does not mention any date as the date of dissolution, the firm shall be dissolved on the date”. This question is standard in competitive examination syllabi for Indian Partnership Act.

CIT v. A. W. Figgis and Co. is the correct answer to “Distinction between retirement and dissolution was explained by Supreme Court is explained in”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Both (A) and (B) is the correct answer to “The scope of implied authority of a partner under section 19 of the Indian Partnership Act is linked with”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Where a minor is admitted to the benefits of subsisting partnership is the correct answer to “Section 30 of the Indian Partnership Act, 1932, applies”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Not bound is the correct answer to “A partnership firm is . . . . . . . by acts of a partner who has been adjudicated insolvent”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Dissolution by Registrar is the correct answer to “Which of the following is not a mode of dissolution of firm under Indian Partnership Act, 1932”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Joint and several is the correct answer to “Under Section 25 of the Indian Partnership Act, 1932 the liability of the partners for the acts of the firm is:”. This question is standard in competitive examination syllabi for Indian Partnership Act.

In favour of the liability of the firm is the correct answer to “Where the name of the firm and that of an individual partner of the firm is identical, the presumption is”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Principal and agent is the correct answer to “The concept of partnership commensurate with”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Public notice is the correct answer to “Sub-section (3) of section 32 of the Indian Partnership Act, 1932, requires that the retirement of a partner should be made known through”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Section 14(g) of the Act is the correct answer to “The court is empowered to order dissolution of a firm where it is just and equitable to dissolve the firm, under”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Section 17 of the Act is the correct answer to “Where an established partnership business is continued, without any further contract between the parties, after the death of one of the partners, the same shall be governed by”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Partnership-at-will is the correct answer to “Which types of partnership have no agreement in terms of the duration of partnership”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Extend the authority of a partner in emergency is the correct answer to “Section 21 of the Indian Partnership Act, 1932 purports to”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Either (A) or (B) or (C) is the correct answer to “A partner may retire”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Either (A) or (B) is the correct answer to “Under section 44(c) of the Indian Partnership Act, 1932, the misconduct of a partner to order dissolution of a firm must be”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Easy dissolubility is the correct answer to “The most important feature of a 'partnership at will' is:”. This question is standard in competitive examination syllabi for Indian Partnership Act.

A' owes the partnership firm of 'B' & 'C' Rs. 1000. 'B' dies leaving 'C' surviving. 'A' sues. 'C' for a debt of Rs. 1500 due in his separate character. 'C' wants to set off the debt of Rs. 1000 is the correct answer to “In which of the following cases a Set Off can be claimed”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Both A and B is the correct answer to “A firm consists of X, Y and Z. A who is not a partner, makes a representation to B that he is also a partner and on the faith of this representation B gives credit to the firm.”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Contingent dissolution is the correct answer to “The type of dissolution described under section 42 of the Indian Partnership Act, 1932, is”. This question is standard in competitive examination syllabi for Indian Partnership Act.

For the purposes or in the course of business of the firm is the correct answer to “The property of the firm includes all property”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Under section 29 is the correct answer to “The provision related to the liability of a firm for the wrongful acts of for the torts is contained”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Wider than the implied authority is the correct answer to “The scope of the apparent authority of a partner is”. This question is standard in competitive examination syllabi for Indian Partnership Act.

Does not make the stranger a partner in the original firm is the correct answer to “If several persons are partners in a firm and one of them agrees to share the profits devised by him with a stranger, the agreement, as per the law laid down in Murlidhar v. I. T. Commissioner, AIR 1967 SC 383,”. This question is standard in competitive examination syllabi for Indian Partnership Act.