Indian Partnership Act MCQ question and answer | Law MCQ question

The relation of partnership according to Section 5 of Indian Partnership Act, 1932 arises from

Read Assertion (A) and Reason (R) and answer using below:
Assertion (A): Salary drawn by a partner from the firm for his services rendered to it has been treated different from his right to get an additional amount in the form of salary as his share of the firm's profit.
Reason (R): Because R. M. Chidambaram Pillai v. Commissioner of Income Tax case laid down above principle.

Acknowledgment of a liability of the firm by a partner amounts to

As a general rule, by virtue of section 13 of the Indian Partnership Act, 1932

Where in a contract between the partners no provision is made for duration of their partnership or for determination of their partnership, the partnership is:

Under section 11 of the Indian Companies Act, 1956 for a non-banking business, the minimum number of partners can be

Match List-I with List-II and select the correct answer using the given below:

List I (Principles of mutual rights and liabilities of partners)	List II (Relevant case-law)
a. Remuneration to a partner in absence of an agreement on this matter	1. Md. Abdul Sattar v. State of Andhra Pradesh
b. Fixation of remuneration by agreement in respect of a partner does not alter his status as a partner	2. Ghisulal v. Ghumbirmal
c. Interest on the capital of a partner	3. Shelat Brothers v. Nanalal Harilal Shelat
d. Action against a partner for balance due to another	4. Bhagchand v. Kaluram @ Moolchand

Under section 44 of the Indian Partnership Act, 1932, the court can order dissolution of a firm on the ground of insanity ordinarily where

An agreement to carry on business in partnership in the future creates a partnership

Section 13(f) of the Indian Partnership Act, 1932 provides for