Relations of Partners – Test 4

In a Partnership firm, having three or more partners, where a partner decides to retire from the firm

In case of Partnership at will, a retiring partner has to give a written notice

Which of the following is not the right of a partner i.e. which he cannot claim as a matter of right ?

A partner who receives certain remuneration from the firm as per the express agreement, becomes an employee of the firm.

Following is not the right of a partner i.e., which he cannot claim as a matter of rights to

In case of invalid expulsion of a partner, the firm automatically gets dissolved.

To avoid liability to third parties, public notice of expulsion should be given. Such public notice must be given by

The invalid expulsion of a partner gives him a right to claim damages.

To admit a new partner, unless there is a contract to the contrary, consent is required from

The implied authority of a partner is subject to the following mentioned condition

A new admitted partner brings certain amount of money besides his capital contribution is known

According to Partnership Act, the transferee of a partner’s interest

The partnership deed may provide that a new partner may be introduced

Where a partner of a firm is adjudged insolvent, the partnership firm

A retired partner continues to be liable for the acts done by any of the partners after his retirement if

A partner can be expelled if

Following acts are not included in the implied authority of a partner to

A third party deals with the firm without knowledge. That Mr.X has been expelled from the firm, in such a case, Mr X _____

Which of these acts are within the implied authority of a partner ?

The liability of a new partner generally commences from

Which are the subjects, for which a partner does not have implied authority

A firm is said to be reconstituted

According to Partnership Act, the transferee of a partner’s interest is not entitled to

When a partner is expelled otherwise than in good faith, it is

Generally, a new partner is liable for all acts done by the firm even before his admission.

Retiring partner continues to be liable for acts of the firm done –

An Expelled partner continues to be liable for acts of the firm done

Where a new partner specifically agrees to bear past liabilities, he will be liable for such liabilities to

A new partner generally shall be liable for the

Where the expulsion of a partner is irregular he can