Where a minor has been admitted to the benefits of the partnership but he does not know that he has been so admitted, the option to stay in the partnership or to move out, on attaining majority under section 30(5) of the Act has to be exercised within
A. Six months of attaining majority
B. Six months of acquiring the knowledge of being so admitted into the firm
C. Six months of attaining majority or six months of acquiring the knowledge of being so admitted into the firm, whichever is earlier
D. Six months of attaining majority or six months of acquiring the knowledge of being so admitted into the firm, whichever is later
Answer: Option D
This Question Belongs to Law >> Indian Partnership Act
Section 25 of the Indian Partnership Act, 1932, provides for
A. Liability of the firm for the acts of a partner
B. Liability of a partner for the acts of the firm
C. Liability of the firm for the wrongful acts of a partner
D. Rights of a partner
Where a partner is entitled to interest on the capital subscribed, such interest is payable
A. Out of profits only
B. Out of capital if no profits
C. Out of capital if losses
D. Either (A) or (B) or (C)
Section 44(g) of the Indian Partnership Act, 1932, is to be regarded as
A. Independent of section 44(a) to 44(f) of the Act
B. Ejusdem generis with sections 44(a) to 44(f) of the Act
C. Either (A) or (B)
D. Only (A) and not (B)
A. Suit in respect of any transaction which forms an item of the partnership account
B. Suit for money lent by him to a firm of which he is a member
C. Suit for contributions in respect of moneys borrowed by him under an express agreement with them for the purposes of partnership
D. All the above
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