81
Where a suit instituted by an unregistered firm against a third party for enforcing its rights arising out of a contract, has been dismissed under section 69(2) of the Indian Partnership Act, 1932, a fresh suit on the same cause of action, after registration of the firm is
A)
Barred by resjudicata
B)
Maintainable only if the court while dismissing the earlier suit has granted the liberty to file a fresh one
C)
Maintainable if within limitation
D)
Maintainable only with the leave of the court
Answer & Solution
Answer: Option
C
82
Section 30(2) of the Indian Partnership Act, 1932, does not permits a minor admitted to the benefits of the firm to have
A)
Access to, inspect and copy any of the accounts of the firm
B)
Access to books of the firm which do not contain matters of accounts
C)
Both (A) and (B)
D)
Neither (A) nor (B)
Answer & Solution
Answer: Option
B
83
Section 16(a) of the Indian Partnership Act, 1932
A)
Permits a partner to derive any profit for himself from the use of business connection of the firm
B)
Prohibits a partner to device any profit for himself from the use of business connection of the firm
C)
Partially permits and partially prohibits a partner to devive any profits for himself from the use of business connection of the firm
D)
Either (B) or (C)
Answer & Solution
Answer: Option
B
84
The rights and duties of partners inter se can be regulated and varied by the consent of the partners by virtue of
A)
Section 14of the Act
B)
Section 13 of the Act
C)
Section 12 of the Act
D)
Section 11 of the Act
Answer & Solution
Answer: Option
D
85
It is necessary under section 45 of the Indian Partnership Act, 1932, that the public notice as to the dissolution of the firm, be given by
A)
The firm and the partners separately
B)
All the partners separately
C)
Any of the partners
D)
The majority of the partners separately
Answer & Solution
Answer: Option
C
86
Amended provisions of section 69 (Maharashtra Amendment Act, 1984) is . . . . . . . in operation
A)
Retrospective
B)
Prospective
C)
Not retrospective
D)
Not prospective
Answer & Solution
Answer: Option
C
87
Where a change occurs in the constitution of a firm and no new agreement is made
A)
The ratio of profit sharing shall become equal for all the partners
B)
The ratio of profit sharing shall remain the same to the extent to which it is consistent with the altered composition of the firm
C)
The ratio of profit sharing shall change in the ratio of capital contributions
D)
The ratio of profit sharing shall change in the ratio of personal efforts/labour input of the partners
Answer & Solution
Answer: Option
B
88
A suit for the dissolution of a firm on the ground of misconduct of a partner, under section 44(c) of the Act, can be instituted by
A)
The partner who has misconducted himself only
B)
Any partner including the one who has misconducted himself
C)
Any partner other than the one who has misconducted himself
D)
Only (B) is correct and not (A) or (C)
Answer & Solution
Answer: Option
C
89
Which of the following duties cannot be invalidated by the partners by making a contract to the contrary.
A)
To carry on the business of the firm to the greatest common advantages
B)
To indemnify the firm for any loss caused to it by fraud
C)
To not to carry on any business other than that of the firm
D)
Both A and B
Answer & Solution
Answer: Option
D
90
The proviso to section 47 of the Indian Partnership Act, 1932
A)
Affects the liability of the firm for the acts of any partner adjudicated an insolvent
B)
Affects the liability of any person who represents himself as a partner of the insolvent
C)
Does not affect the liability of any person who represents himself as a partner of the insolvent
D)
Both (A) and (C)
Answer & Solution
Answer: Option
D
