Indian Partnership Act MCQ question and answer

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Each section contains 100 MCQs on Indian Partnership Act .

Who said these word "Every partner is an agent of the partnership and his rights powers duties and obligations are in many respects governed by the same rules and principles as those of an agent; a partner virtually embraces the character of both a principal and an agent".

A) Lord Wensleydale B) Mr. Justice Story C) Pollock D) Saimond

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

In order to invoke the power of the court under section 44(d) of the Act, the alleged violation of the articles of contract of partnership, on the part of a partner

A) Must be of substantial nature B) May be of trifling nature C) May be a partnership squable D) Either (A) or (B) or (C)

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Limited liability partnership and a partnership firm are the same but just governed by different statutes

A) The above statement is absolutely correct B) The above statement is partially correct C) The above statement is absolutely incorrect D) The above statement is partially incorrect

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

A partnership firm is:

A) A distinct legal entity from its partners B) An independent juristic person C) An agent of its partners D) None of the above

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

The permanent incapacity of a partner under section 44(b) of the Act

A) Must be due to illness-mental or physical B) Must be due to disablement of any kind C) May be due to illness or disablement of any kind D) Only (B) and not (A)

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

When a transferee of a partner's interest in the firm, pays off a partnership debt, without the consent of the other partners but for the benefit of the partnership firm, he is

A) Entitled to the contribution for the same from the partners B) Entitled to be indemnified by the firm under section 13 of the Act C) Either (A) or (B) D) Neither (A) nor (B)

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

In partnership, partners liabilities are

A) Unlimited B) Limited to the capital of the business C) Limited D) Both A and C

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Dissolution of a firm means

A) The dissolution of partnership between some of the partners of a firm B) The dissolution of partnership between two or more partners of a firm C) The dissolution of partnership between all the partners of the firm D) All above

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

The rights of a partner entitled to rescind a contract of partnership on the ground of fraud or misrepresentation have been prescribed under

A) Section 54 of the Act B) Section 53 of the Act C) Section 52 of the Act D) Section 51 of the Act

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

100

Rights of transferee of a partner's interest have been dealt with under

A) Section 30 of the Act B) Section 31 of the Act C) Section 28 of the Act D) Section 29 of the Act

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

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Indian Partnership Act MCQ question and answer | Law MCQ question