Indian Partnership Act MCQ question and answer

11

The liability by holding out is an application of

A) Principle of undisclosed principal B) Principle of estoppel C) Principle of equity D) Principle of agency

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Answer & Solution

Answer: Option B

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12

As a general rule

A) A partner can bring an action against the other partner for partnership without praying for dissolution B) A partner cannot bring an action against the other partner for partnership without praying for dissolution C) A partner can bring an action against the other partner for partnership accounts without praying for dissolution only With the permission of the court D) Only (A) and not (B) or (C)

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Answer & Solution

Answer: Option B

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13

How a partnership may be dissolved by agreement?

A) With the consent of all the partners B) With the consent of all but two partners C) With the consent of majority of partners D) If any partner gives notice of dissolution

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Answer & Solution

Answer: Option A

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14

Under section 30 of the Indian Partnership Act, 1932, a minor

A) Can be admitted to the partnership as a full-fledged partner B) Cannot be admitted to the partnership at all for want of capacity to contract C) Can be admitted to the partnership for the benefits only D) Both (A) and (C)

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Answer & Solution

Answer: Option C

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15

A partnership not for any fixed duration is

A) Partnership at will B) Indissoluble partnership C) Either (A) or (B) D) None of the above

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Answer & Solution

Answer: Option A

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16

The principle of liability by holding out is contained in

A) Section 28 of the Indian Partnership Act, 1932 B) Section 30 of the Indian Partnership Act, 1932 C) Section 29 of the Indian Partnership Act, 1932 D) Section 27 of the Indian Partnership Act, 1932

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Answer & Solution

Answer: Option A

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17

The jural relationship between the partners inter se does not come to an end on

A) Retirement of a partner B) Dissolution of the firm C) Both (A) and (B) D) Neither (A) or (B)

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Answer & Solution

Answer: Option A

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18

Whether an act of a partner or agent can be regarded as an 'act of the firm' is a

A) Question of fact B) Question of law C) Mixed question of fact & law D) Either (A) or (C)

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Answer & Solution

Answer: Option A

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19

Section 45 of the Indian Partnership Act, 1932 provides for

A) Mode of settlement of accounts between partners B) Authority of partners for the purposes of winding up C) Liability for acts of the partners after classification D) Right of partners to have the business would up after dissolution

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Answer & Solution

Answer: Option C

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20

In case of partnership, receivers and managers appointed by the court are

A) Officers of the court and succeed to the personal fiduciary relations of the partners B) Officers of the court and do not succeed to the personal fiduciary relations of the partners C) Not officers of the court and succeed to the personal fiduciary relations of the partners D) Nor officers of the court nor succeed to the personal fiduciary relation of the partners

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Answer & Solution

Answer: Option B

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Indian Partnership Act MCQ question and answer | Law MCQ question