Indian Partnership Act MCQ question and answer

21

An action for dissolution of a firm under section 44(e) of the Act can be brought by

A) Any partner including the partner who has transferred his interest B) Any partner other than the partner who has transferred his interest C) The transferee of the interest D) Either (B) or (C)

Discuss

Answer & Solution

Answer: Option B

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22

The right of partners after dissolution under section 46 of the Indian Partnership Act, 1932 is in the nature of

A) Lien affecting a particular piece of partnership surplus assets B) General lien upon the partnership surplus assets C) Both (A) and (B) D) Neither (A) nor (B)

Discuss

Answer & Solution

Answer: Option B

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23

Where in a registered firm, a minor who has been admitted to the benefits of the firm attains majority and makes his election to become or not to become a partner, under section 63(2) of the Indian Partnership Act, 1932, has to be notified to the Registrar by

A) The minor who on attaining majority has exercised the option B) All the partners C) The majority of the partners D) Any creditor of the firm

Discuss

Answer & Solution

Answer: Option A

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24

Where under a contract between the partners, the firm is not dissolved by the death of a partner, the estate of a deceased partner:

A) Is not liable for any act of the firm done after his death B) Is liable for any act of the firm done after his death C) Is forfeited by government D) None of above

Discuss

Answer & Solution

Answer: Option A

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25

Under section 51 of the Indian Partnership Act, 1932, on premature dissolution of a firm, the partner having paid premium for admission

A) Is entitled to repayment of the entire premium B) Is entitled repayment of a reasonable part of the premium C) Is not entitled for any refund of premium D) Either (A) or (B)

Discuss

Answer & Solution

Answer: Option D

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26

Which of the following is not held to be misconduct within the meaning of section 44(c) of the Act, warranting an order of dissolution of a firm by the court

A) Committing adultery with several women in the city where the business was carried on by the firm, by a partner of the firm engaged in banking B) Committing adultery with the wife of a fellow partner C) Conviction for travelling without ticket D) Misconduct towards the clients of the firm

Discuss

Answer & Solution

Answer: Option A

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27

Dissolution of a partnership firm happens upon:

A) Death of a partner B) Introduction of a partner C) Both of the above D) Neither of the above

Discuss

Answer & Solution

Answer: Option C

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28

Under the implied authority within the meaning of section 19(1) of the Indian Partnership Act, a partner can

A) Acquire immoveable property on behalf of the firm B) Transfer immoveable property belonging to the firm C) Both (A) and (B) D) Neither (A) nor (B)

Discuss

Answer & Solution

Answer: Option D

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29

The liability by holding out can be incurred by

A) A minor B) A major C) Either (A) or (B) D) Both (A) and (B)

Discuss

Answer & Solution

Answer: Option B

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30

The proper remedy for a partner who has been expelled is to

A) Claim re-instatement in his right B) Claim and sue for damages C) Either (A) or (B) D) Both (A) and (B)

Discuss

Answer & Solution

Answer: Option A

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Indian Partnership Act MCQ question and answer | Law MCQ question