Indian Partnership Act MCQ question and answer

91

The effects of the minor dropping out of the firm on attaining majority have been provided under

A) Section 30(6) of the Act B) Section 30(7) of the Act C) Section 30(8) of the Act D) Section 30(9) of the Act

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Answer & Solution

Answer: Option C

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92

The bar of section 69(2) of the Indian Partnership Act, 1932, applies when the right which is sought to be enforced arises otherwise by way of

A) Torts B) Statutory provisions C) Either (A) or (B) D) Neither (A) nor (B)

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Answer & Solution

Answer: Option D

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93

The retiring partner, is bound to make the election as to whether he would claim a share of the profits or interest on the unpaid capital

A) On the date he retires from the partnership B) At any time before the share of profits and assets that would fall to him is ascertained C) At the time when the share of profits and assets that would fall to his share is ascertained D) Only (A) and not (B) or (C)

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Answer & Solution

Answer: Option C

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94

Mutual agency among the partner is

A) A test to determine the existence of a partnership B) A legal incidence of partnership C) Both (A) and (B) D) Neither (A) nor (B)

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Answer & Solution

Answer: Option C

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95

Which statement is correct:

A) A partnership firm is a juristic person B) A partnership firm is a distinct legal entity from its partners C) A partnership firm is not a distinct legal entity from its partners D) All of the above

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Answer & Solution

Answer: Option C

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96

A suit for dissolution of a firm on the ground of unsoundness of mind of a partner, can be filed under section 44(a) of the Act, by

A) Anyone of the partners B) The insane partner C) Either (A) or (B) D) Only (A) and not (B)

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Answer & Solution

Answer: Option C

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97

How a partner cannot retire

A) By tendering resignation to anyone of the partners B) With the consent of all the partners C) In case of partnership at will by giving notice of his intention to retire to all the partners D) In accordance with an express agreement of partners

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Answer & Solution

Answer: Option A

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98

Where a partner retires from a partnership, as long as public notice is not given

A) The firm will be answerable for the acts of the retired partners B) The retired partner will be answerable for the acts of the firm C) Only (B) and not (A) D) Both (A) and (B)

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Answer & Solution

Answer: Option D

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99

The effect of the doctrine of holding out is that

A) The persons may be partners towards the world without being partners between themselves B) The persons may be partners towards the world on being partners between themselves C) The persons may be partners towards the world without having done anything D) Both (A) and (B)

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Answer & Solution

Answer: Option A

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100

Notice of intention to retire by a partner, under section 32(1)(c) of the Indian Partnership Act, 1932 to be valid, must be

A) In writing and signed by the partner B) In writing but need not be signed by the partner C) Orally communicated to all the partners D) Either (A) or (B) or (C)

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Answer & Solution

Answer: Option A

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Indian Partnership Act MCQ question and answer | Law MCQ question