Where an individual is a common partner in two firms
A. No action can be brought by one firm against the other upon any transaction between them so long as that individual continues to be a common partner
B. An action can be brought by one firm against the other upon any transaction between them even though that individual continues to be a common partner
C. An action can be brought by one firm against other firm upon any transaction between them but the common partner shall not be arrayed as a defendant
D. An action can be brought by one firm against other firm upon any transaction between them but the common partner shall be excluded from participating in the proceedings
Answer: Option A
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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