A partnership firm consists of three partners 'A', 'B' & 'C', and owes 'R' sum of Rs. 15,000. 'A' wants to retire and it is agreed amongst all the three partners and 'R' that after retirement of 'A', 'B' & 'C' as continuing partners shall be liable for the dues of 'R'. After the retirement of 'A', 'R' sues 'A' for recovery of Rs. 15,000.
A. R' has an option to sue the firm consisting of 'B' & 'C' or the retired partner 'A'
B. R' has a right to sue 'A' to the extent of Rs. 5000 being the portion attributable to 'A'
C. R' has no right to sue 'A' as after the retirement of 'A' a new agreement came into being between 'R' & the firm and 'A' stood discharged of his liability towards 'R'
D. 'R' can sue the firm consisting of 'B' & 'C' alongwith 'A' as liability of all the partners is joint & several
Answer: Option C
This Question Belongs to Law >> Indian Contract Act
Indian Contract Act:- Gods displayed in showcase of a shop with price tag is -
A. Invitation to offer
B. Counteroffer
C. Communication
D. None of these
A. Is available to Y's representatives alone
B. Is available to Z alone
C. Is available to Y's representatives & Z both
D. Is available to Y's representatives & after the death of Z, his representatives
Moses v. Macferlan (1555-1774) is a case relating to
A. Theory of unjust enrichment
B. The right of lien
C. Test of agency
D. Doctrine of frustration
A. The active concealment of a fact by one having knowledge or belief of the fact
B. A promise made without any intention of performing it
C. The suggestion, as a fact, of that which is true, by one who does believe it to be true
D. None above
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