91
Which of the following is a valid partnership
A)
Partnership between the Karta of a joint Hindu family in his representative capacity and an individual co-parcener of the same family
B)
Partnership between two Hindu joint families
C)
Partnership between a Hindu joint family and a partnership firm
D)
All the above
Answer & Solution
Answer: Option
A
92
Section 17 of the Indian Partnership Act, 1932 provides for the mutual rights and duties of the partners to remain the same in the event of
A)
Change in the constitution of the firm
B)
Continuation of the partnership after the expiry of the term of partnership
C)
Carrying out additional undertaking apart from the one for which the partnership is constituted
D)
All the above
Answer & Solution
Answer: Option
D
93
The action for the dissolution of a firm under section 44(d) of the Act can be brought by
A)
Any partner including the partner responsible for destruction of mutual confidence
B)
Any partner other than the one responsible for destruction of mutual confidence
C)
The managing partner irrespective of whether he is responsible for destruction of mutual confidence
D)
Only (C) and not (A) or (B)
Answer & Solution
Answer: Option
B
94
Statutory restrictions as contained in section 19(2) of the Indian Partnership Act, 1932 are
A)
Binding on all the persons dealing with the firm, without knowledge of the restrictions
B)
Binding on all the person dealing with the firm, if they have knowledge of the restrictions
C)
Not binding on all the persons dealing with the firm, if they do not have knowledge of the restrictions
D)
Both (A) and (C) are correct
Answer & Solution
Answer: Option
A
95
Section 13 of the Indian Partnership Act, 1932 is
A)
A mixed statement of rights and duties of the partners
B)
A mixed statement of duties and liabilities of the partners
C)
A mixed statement of rights and liabilities of the partners
D)
A mixed statement of rights, duties and liabilities of the partners
Answer & Solution
Answer: Option
D
96
A partnership for which no period or duration is fixed, under the Indian Partnership Act, 1932 known as
A)
General partnership
B)
Partnership at will
C)
Particular partnership
D)
Co-ownership
Answer & Solution
Answer: Option
B
97
Which of the following is not an effect of holding out
A)
The apparent partner gets rights against the members of the firm
B)
An agency is established between the apparent partner and the real partners
C)
The apparent partner incurs no liability to the firm to whom any damage is caused by representing as partner
D)
All the above
Answer & Solution
Answer: Option
D
98
Under section 19 a partner has an implied authority to
A)
Compromise any claim or a portion of a claim by the firm
B)
Relinquish any claim or a portion of a claim by the firm
C)
Both (A) and (B)
D)
Neither (A) nor (B)
Answer & Solution
Answer: Option
D
99
Which of the following is not an implied right of the partner under the Indian Partnership Act, 1932 as per Section 19 of the Act?
A)
To take part in conduct of the business of the firm
B)
To attend his duties diligently
C)
To have access to and inspect and copy of any of the books of the firm
D)
To open a bank account on behalf of the firm in his own name
Answer & Solution
Answer: Option
D
100
Notice of intention to retire by a partner under section 32(1)(c) of the Indian Partnership Act, 1932, should be served on
A)
Anyone of the other partner as notice to a partner is a notice to the firm
B)
The managing partner as notice to a managing partner is a notice to the firm
C)
All the partners
D)
Either (A) or (B) or (C)
Answer & Solution
Answer: Option
C
