Section 69 of the Indian Partnership Act, 1932 is a
A. Direct compulsion for registration
B. Indirect compulsion for registration
C. Non compulsion for registration
D. Neither (A) nor (B)
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Which of the following section contains the modes of dissolution of a firm
A. Section 40
B. Section 41
C. Section 42
D. Section 44
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It has been held that the words "other proceedings" in section 69(3) of the Indian Partnership Act, 1932, must receive their full meaning untranslated by the words "a claim to set off", the latter words neither intend nor can be centred to cut-down the generality of the words "other proceedings", by the Supreme Court in
A. Girdharmal Kapur Chand v. Dev Raj
B. Commissioner of I. T. v. Jayalakshmi Rice & Oil Mills
C. Jagdish Chandra Gupta v. Kajaria Traders (India) Ltd.
D. Loonkaran Sethia v. Ivan E-John
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A', 'B' and 'C' are partners in a partnership firm named A, B & C. 'A' retires from the firm without giving any public notice. Thereafter, an existing creditor lends Rs. ten lakh to the firm on the basis of his knowledge that 'A', 'B' and 'C' are the three partners in the firm. This amount remains unpaid by the firm. The creditor wants to recover the unpaid loan amount from the firm.
A. No one will be liable for the unpaid loan amount
B. A', 'B' and 'C' will be liable for the unpaid loan amount
C. Only 'B' and 'C' will be liable for the unpaid loan amount
D. Only 'A' will be liable for the unpaid loan amount
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On the death of a partner, by virtue of section 35 of the Indian Partnership Act, 1932, the partnership firm
A. Automatically stands dissolved
B. Does not dissolve at all
C. May or may not dissolve depending on the contract between the partners
D. Only (A) and not (B) or (C)
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Under section 4 of the Indian Partnership Act, partnership is a
A. Compulsory legal relation
B. Creation of the choice and voluntarily agreement between the concerned parties
C. A relation arising from status
D. Either (A) or (B) or (C)
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Where a partner in a firm is adjudicated an insolvent, he ceases to be a partner
A. On the date on which the petition for insolvency was filed
B. On the date on which the order of adjudication is made
C. On the date fixed by the court
D. Either (B) or (C)
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In case of a mercantile firm, a partner has an implied authority to borrow, that implied authority to borrow
A. Includes the authority to acknowledge liability of the firm
B. Includes the authority to admit any liability in a suit or proceeding against the firm
C. Both (A) and (B)
D. Neither (A) nor (B)
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Foreign Limited Liability Partnership (FLLP) under the Limited Liability Parternship Act, 2008 means
A. A Limited Liability Partnership formed, incorporated or registered in that country to which the partners belong
B. A Limited Liability Partnership formed, incorporated or registered under Economic Council of UNO
C. A Limited Liability Partnership formed, incorporated or registered in Indian territory
D. A Limited Liability Partnership formed, incorporated or registered outside India which establishes a place of business within India
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A partner has a right to have access to all the books of accounts etc., of the firm
A. During the subsistence of the partnership
B. During the proceedings for the dissolution of the firm
C. After the dissolution of the firm
D. All the above
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Under section 45 of the Indian Partnership Act, 1932, if no public notice of the dissolution of the firm is given and a partner contracts in the name of the firm, which would have been within the implied authority of the partner
A. Only that partner will be liable who has entered into the contract
B. That partner and all his co-partners shall be liable
C. Only the other co-partners shall be liable
D. Neither that partner nor his co-partners shall be liable
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Section 36(2) of the Indian Partnership Act, 1932
A. Authorises the partners to alter the statutory scheme prescribed under section 36(1) of the Act, by agreement
B. Prohibits the partners to alter the statutory scheme prescribed under section 36(1) of the Act by agreement
C. Authorises the partners to alter the statutory scheme prescribed under section 36(1) of the Act, particularly only, by agreement
D. Either (B) or (C)
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Ordinarily, on the overdrawings by the partners from the firm
A. No interest is chargeable
B. Interest is chargeable @ 6% p.a.
C. Interest is chargeable @ 9% p.a.
D. Interest is chargeable @ 12% p.a.
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Under section 11 of the Indian Partnership Act, 1932, in case of any conflict between the provision of the Act and the articles of the agreement, the articles of the agreement with it, will be
A. Valid
B. Invalid
C. Voidable at the instance of any of the partner
D. Viodable at the instance of a third party
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The liability under section 28 of the Indian Partnership Act, 1932, depends on
A. Estoppel
B. Contract between apparent partners
C. Either (A) or (B)
D. Neither (A) nor (B)
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Section 50 of the Indian Partnership Act, 1932, applies in a case where the firm is dissolved on account of
A. Retirement of a partner
B. Death of a partner
C. Adjudication of a partner as insolvent
D. All the above
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After selling the goodwill of the firm under section 55(2) of the Indian Partnership Act, 1932, a partner
A. Can carry on a business competing with that of the buyer
B. Cannot carry on a business competing with that of a buyer
C. Can use the firm name
D. Either (A) or (C)
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Section 44 of the Indian Partnership Act, 1932, prescribes
A. Nine grounds of dissolution of a firm by court
B. Seven grounds of dissolution of a firm by court
C. Five grounds of dissolution of a firm by court
D. Four grounds of dissolution of a firm by court
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. . . . . . . . is not absolved of his liability
A. A sleeping partner
B. An outgoing partner
C. A retired partner
D. None of the above
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A partner of an unregistered firm cannot sue:
A. For enforcing a right under the Partnership Act
B. For enforcing a right arising out of the partnership contract
C. For dissolution of Partnership Firm
D. Both (A) and (B)
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