Indian Partnership Act MCQ question and answer

31

Mere production of document, appeal, memorandum but no registration of partner who institutes the suit does not fulfil requirement of

A) Order 41, rule 27 Code of Civil Procedure B) Order 40, rule 26 Code of Civil Procedure C) Order 29, rule 29 Code of Civil Procedure D) Order 41, rule 26 Code of Civil Procedure

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Answer & Solution

Answer: Option A

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32

Section 45 of the Indian Partnership Act, 1932, requires

A) That a public notice of the fact of dissolution should be given B) That a public notice of the fact of dissolution need not be given C) Notice of the fact of dissolution be given to each of the partners D) Notice of the fact of dissolution need not be given to any of the partners

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Answer & Solution

Answer: Option A

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33

Since the partnership property vests in all the partners and every partner has an interest in the property of the partnership, during the subsistence of partnership

A) A partner can deal with the property as his own B) A partner can deal with a portion of the property upto his share in the partnership, as his own C) A partner can deal with a specific item of the partnership property as his own D) A partner cannot deal with any particular property or any portion of the property as his own

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Answer & Solution

Answer: Option D

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34

A, B and C are partners in a firm. C retires and X admitted as a new partner. The firm did not give a public notice on the change but continued its business in its old firm name. Z, a customer of the firm, deals with the firm after the change and the firm becomes indebted to him:

A) Z can sue A, B, C and X B) Z can sue A, B and C C) Z can sue either A, B and C, or A, B and X D) Z can sue A and B only

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Answer & Solution

Answer: Option A

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35

Where under a contract between the partners, the remaining partners have opted to purchase the share of the outgoing partner, the outgoing partner, under section 37(2) of the Act has

A) A right to receive the interest on the unpaid capital but his right to share of profits ceases B) A right to receive share of profits in the proportion of the assets but his right to receive interest ceases C) A right to receive share of profits or the interest on the unpaid capital D) No right to receive share of profits or the interest on the unpaid capital as the same ceases

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Answer & Solution

Answer: Option D

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36

Section 22 of the Indian Partnership Act, 1932 is a provision which shows

A) How a partner can bind the firm and the rest of the partners of the firm, once his act is within the four comers of his implied authority B) How a partner can bind the firm and the rest of the partners of the firm, when his act is not within his implied authority C) How the partners can ratify the unauthorized act of a partner D) Both (A) and (B)

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Answer & Solution

Answer: Option A

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37

The rule of unanimity contained in section 12(c) of the Indian Partnership Act, 1932 has a reference to

A) Fundamental matters B) Ordinary matters C) Trivial matters D) All the above

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Answer & Solution

Answer: Option A

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38

In which of the following cases the Supreme Court held that quota is not an asset of the firm

A) Shadilal v. Nagin Chand B) V. H. Patel v. H. H. Patel C) Addanki Narayanappa v. Bhaskara Krishnappa D) None of the above

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Answer & Solution

Answer: Option A

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39

Under section 53 of the Indian Partnership Act, 1932, the duration of restraint can be

A) For a reasonable period B) For a period agreed upon by the partners C) For a period after dissolution upto which the winding up of the firm lasts D) For a period fixed by the court

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Answer & Solution

Answer: Option C

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40

The share/interest of a partner in the partnership having immovable properties is:

A) Movable property B) Immovable property C) A right to sue D) All the above

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Answer & Solution

Answer: Option A

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Indian Partnership Act MCQ question and answer | Law MCQ question