Indian Partnership Act MCQ question and answer

71

A suit of a partnership firm to enforce any type of rights of the partnership firm is not maintainable unless the partnership firm is registered under Section 69 of the Partnership Act before the filing of the suit.

A) An unregistered firm cannot sue for any rights, be they contractual or statutory, unless the partnership firm is first registered B) Partnership firm can sue for enforcement of its statutory rights even if the partnership firm is not registered C) A partnership firm can sue for enforcement of its rights provided in the same suit both statutory and contractual rights are claimed together and not only contractual rights D) Even if a suit is filed for enforcement of a contractual right by an unregistered firm, but such a suit can continue if the partnership firm is got registered during pendency of the suit

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Answer & Solution

Answer: Option B

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72

In which of the following cases, a partnership does not exist?
1. Lender of money receiving profits.
2. Servants or agents receiving profits.
3. Widow or child of a deceased partner receiving profits.
4. Seller of goodwill receiving profit.

A) 1, 2 and 3 B) 1, 2 and 4 C) 2, 3 and 4 D) All of the above

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Answer & Solution

Answer: Option D

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73

'Benefits of partnership' within the meaning of section 30 of the Indian Partnership Act, 1932, means

A) Profit sharing B) Assets-sharing in the event of dissolution of the firm C) Both (A) and (B) D) Only (A) and not (B)

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Answer & Solution

Answer: Option C

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74

Under section 9 of the Indian Partnership Act, 1932, in doing best for the common body

A) A partner is regarded as a kind of trustee for the other partners B) A partner is liable to render the accounts to other partners in a fiduciary capacity C) Both (A) and (b) D) Neither (A) nor (B)

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Answer & Solution

Answer: Option D

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75

In which among the following cases it was held that the "assignment of share of partner inclusive of immovable property does not require registration under Registration Act"?

A) M. C. Sivagamui v. M. C. Kuppusamy, AIR 2010 Mad 1 B) Union of India v. M/S Sarvana Construction, AIR 2010 Mad 6 C) Thangaraja v. Ameer, AIR 2010 Mad 13 D) Dolly Roy v. Raja Roy, AIR 2010 Ori 1

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Answer & Solution

Answer: Option A

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76

Is it necessary that Managing Partner is registered

A) Yes B) No C) He is independent partner D) None of the above

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Answer & Solution

Answer: Option A

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77

Which is not a feature of a partnership business?

A) Ease of formation B) Limited liability C) Limited life D) Mutual agency

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Answer & Solution

Answer: Option B

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78

Compulsory dissolution of a firm has been provided under

A) Section 39 of the Act B) Section 41 of the Act C) Section 40 of the Act D) Section 44 of the Act

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Answer & Solution

Answer: Option B

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79

According to section 49 of the Indian Partnership Act, 1932, out of the separate property of a partner

A) Payment of firm debt shall have priority over the payment of separate debt of the partner B) Payment of firm debt shall be simultaneous to payment of separate debt of the partner without any priority C) Payment of firm debt and the separate debts of the partner as per the agreement between the partners D) Payment of separate debts of the partner in priority over the firm debts

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Answer & Solution

Answer: Option D

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80

Contractual restrictions on the partner's implied authority as provided in section 20 of the Indian Partnership Act, 1932 are

A) Binding on all the persons dealing with the firm, without knowledge of the restrictions B) Binding on all the persons dealing with the firm only if they have knowledge of the restrictions C) Not binding on the persons dealing with the firm at all D) Either (B) or (C)

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Answer & Solution

Answer: Option B

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Indian Partnership Act MCQ question and answer | Law MCQ question