The relation of partnership according to Section 5 of Indian Partnership Act, 1932 arises from
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Law · all questionsIndian Partnership Act
Indian Partnership Act
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Read Assertion (A) and Reason (R) and answer using below:
Assertion (A): Salary drawn by a partner from the firm for his services rendered to it has been treated different from his right to get an additional amount in the form of salary as his share of the firm's profit.
Reason (R): Because R. M. Chidambaram Pillai v. Commissioner of Income Tax case laid down above principle.
Assertion (A): Salary drawn by a partner from the firm for his services rendered to it has been treated different from his right to get an additional amount in the form of salary as his share of the firm's profit.
Reason (R): Because R. M. Chidambaram Pillai v. Commissioner of Income Tax case laid down above principle.
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Acknowledgment of a liability of the firm by a partner amounts to
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As a general rule, by virtue of section 13 of the Indian Partnership Act, 1932
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Where in a contract between the partners no provision is made for duration of their partnership or for determination of their partnership, the partnership is:
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Under section 11 of the Indian Companies Act, 1956 for a non-banking business, the minimum number of partners can be
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Match List-I with List-II and select the correct answer using the given below:
| List I (Principles of mutual rights and liabilities of partners) | List II (Relevant case-law) |
| a. Remuneration to a partner in absence of an agreement on this matter | 1. Md. Abdul Sattar v. State of Andhra Pradesh |
| b. Fixation of remuneration by agreement in respect of a partner does not alter his status as a partner | 2. Ghisulal v. Ghumbirmal |
| c. Interest on the capital of a partner | 3. Shelat Brothers v. Nanalal Harilal Shelat |
| d. Action against a partner for balance due to another | 4. Bhagchand v. Kaluram @ Moolchand |
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Under section 44 of the Indian Partnership Act, 1932, the court can order dissolution of a firm on the ground of insanity ordinarily where
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An agreement to carry on business in partnership in the future creates a partnership
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Section 13(f) of the Indian Partnership Act, 1932 provides for
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In the absence of a public notice of the fact of dissolution of the firm, the authority of partners
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Under section 34 of the Indian Partnership Act, 1932, on adjudication of a partner as insolvent, the partnership firm
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The outgoing partner, where the partnership business is continued by other partners without a final settlement of accounts, under section 37 of the Act, the outgoing partner is entitled to interest on the unpaid capital, at the rate of
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Section 29 of the Indian Partnership Act, 1932, provides for certain rights of the transferee, of the partner's interest, in the firm
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Under section 55(1) of the Indian Partnership Act, 1932, the goodwill as an asset of the firm can be sold
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The Doctrine of Holding Out is mentioned in:
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Where a contract between the partners provides for the mode of dissolution, and the firm is dissolved in accordance with that subsisting contract, such a dissolution of firm is called
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Section 16 of the Indian Partnership Act, 1932 is, 'subject to'
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When the firm is named after the retiring partner, the retiring partner has a right to
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Q100
Open questionSection 68 of the Indian Partnership Act, 1932, lays down
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