According to Section 30 of the Partnership Act, "at any time within 6 months of his attaining majority or of obtaining knowledge that he had been admitted to the benefits of partnership, whichever date is later, a minor can elect to become or not to become a partner."
A. Such option is exercised by giving a public notice
B. If he remains silent and fails to give such a notice there is a presumption that he wants to be a partner and on the expiry of the said 6 months he shall become a partner in the firm
C. If he did not exercise the option, he will be deemed to become a partner in firm
D. All are correct
Answer: Option D
This Question Belongs to Law >> Indian Partnership Act
Section 25 of the Indian Partnership Act, 1932, provides for
A. Liability of the firm for the acts of a partner
B. Liability of a partner for the acts of the firm
C. Liability of the firm for the wrongful acts of a partner
D. Rights of a partner
Where a partner is entitled to interest on the capital subscribed, such interest is payable
A. Out of profits only
B. Out of capital if no profits
C. Out of capital if losses
D. Either (A) or (B) or (C)
Section 44(g) of the Indian Partnership Act, 1932, is to be regarded as
A. Independent of section 44(a) to 44(f) of the Act
B. Ejusdem generis with sections 44(a) to 44(f) of the Act
C. Either (A) or (B)
D. Only (A) and not (B)
A. Suit in respect of any transaction which forms an item of the partnership account
B. Suit for money lent by him to a firm of which he is a member
C. Suit for contributions in respect of moneys borrowed by him under an express agreement with them for the purposes of partnership
D. All the above
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