11
Under the doctrine of holding out, liability can be incurred for
A)
A tort
B)
A crime
C)
A wrongful conduct
D)
Neither (A) nor (B) nor (C)
Answer & Solution
Answer: Option
D
12
Section 64 of the Indian Partnership Act, 1932, authorises
A)
Rectification of mistakes in the register of firms maintained by the Registrar
B)
Rectification of mistakes in the documents submitted by a firm with the Registrar
C)
Both (A) and (B)
D)
Only (A) and not (B)
Answer & Solution
Answer: Option
C
13
In which of the following cases, the Supreme Court held that "the firm name is only a compendious way of describing the partners of the firm".?
A)
Murli Dhar v. Chuni Lal, 1970 RCJ 922 (SC)
B)
Tirath Ram v. Gurbachan Singh, AIR 1987 SC 720
C)
Anant Ram v. Raghubar Dayal, (1971) RCJ 30
D)
None of the above
Answer & Solution
Answer: Option
A
14
Section 19(2) of the Indian Partnership Act, 1932 provides for
A)
Statutory restrictions on the partners implied authority
B)
Contractual restriction on the partner's implied authority
C)
Both (A) and (B)
D)
Neither (A) or (B)
Answer & Solution
Answer: Option
A
15
Where a contract between the partners provides for expulsion of a partner, the power to expel can be exercised by the consent of
A)
Majority of partners
B)
The managing partner
C)
Either (A) or (B)
D)
Both (A) and (B)
Answer & Solution
Answer: Option
A
16
Chapter 6 of the Indian Partnership Act, 1932 provides for
A)
Incoming and outgoing partners
B)
Registration of firm
C)
Dissolution of a firm
D)
Relation of partners inter se
Answer & Solution
Answer: Option
C
17
Which of the following is implied authority of a partner of a firm?
A)
To transfer immovable property of the firm
B)
To withdraw a suit filed on behalf of the firm
C)
An act of a partner which is done to carry on, in the usual way, business of the kind carried on by the firm
D)
To submit a dispute relating to the business of the firm to arbitration
Answer & Solution
Answer: Option
C
18
As regards the capital contribution in the partnership business, the status of a partner is that of
A)
A creditor of the firm
B)
A partner of the firm
C)
An employee of the firm
D)
All the above
Answer & Solution
Answer: Option
B
19
In which case it was held that "Actual Starting of business prior to registration not a condition precedent under section 4 of Partnership Act, 1932"?
A)
Registrar of Firms, Societies and Non-Trading Corporations, West Bengal v. Taruna Manny, AIR 2010 Cal 79
B)
Bank of India v. Aswi Eleciricals, AIR 2010 Jhar 6
C)
Angad Das v. Union of India, AIR 2010 SC 1613
D)
C. Sebastian v. State of Kerala, AIR 2010 Ker 75
Answer & Solution
Answer: Option
A
20
In a suit for dissolution of a firm and accounts a creditor is entitled to be added as
A)
A necessary party
B)
A proper party
C)
Either (A) or (B)
D)
Neither (A) nor (B)
Answer & Solution
Answer: Option
D
