Indian Partnership Act MCQ question and answer | Law MCQ question

What is the partnership written agreement known as?

A partner can examine the books etc., of the partnership firm

Unilateral dissolution of partnership by partner who is minority shareholder is

Which of the following acts are not within the implied authority of a partner

Expulsion of partner has been provided under

The Propositions are:
(1) Where a partner of a professional business partnership borrows money in the usual and regular course of business stating that the money is to be used for partnership business but misappropriates it, the other partners shall be liable.
(2) Where money has been borrowed by a partner without authority, but has been applied to the legitimate business needs of the firm, the firm is liable.
(3) Where the act is within the scope of the implied authority of a partner, but it has been done by him, to the knowledge of the third party, not for the firm but for his own purposes, the firm is liable.
Which of the following is true in accordance with Indian Partnership Act, 1932 as to the aforesaid propositions?

A partner, under section 55(2) of the Indian Partnership Act, 1932, after selling the goodwill, can

State which of the statements is true?

A minor acting through a guardian:

Under section 48 of the Indian Partnership Act, 1932, the residue, on the settlement of accounts after dissolution, shall be divided among the partners