Relations of Partners – Test 1

A partner may retire from an existing firm ____ :

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

In case of transfer of partner’s interest u/s 29, the transferee is entitled to interfere with the conduct of the business :

A new partner can be admitted in the firm with the consent of :

A third party is not affected by the limitation of implied authority unless he has actual notice of it :

Expulsion of a partner which is not in accordance with the provisions of Section 33 of the Indian Partnership Act, 1932 is _____ :

A, B and C are partners where C is a sleeping partner who retires without giving a public notice. Which of the following is/are true ?

Partnership property vests in the :

Ravi, a partner of a firm, borrows money on his own credit by giving his own promissory note for the same, but he subsequently uses the proceeds of the note in the partnership concern of his own free will without any reference to the lender to do so. Which of the following is/are true ?

As per Section 29 of the Indian Partnership Act, 1932 a partner may transfer his interest in the firm ____ :

An irregularly expelled partner has :

A change in nature of business can be effected only by :

The implied authority of a partner in a firm does not empower him to :

The test of good faith is provided under Section 33(1) of the Indian Partnership Act, 1932 requires the following :

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

The heirs of the deceased partner :

The implied authority of any partner may be :

A retiring partner does not have the following except :

Under the Indian Partnership Act, 1932, in the absence of an agreement, a partner is :

Reconstitution of firm takes place in case of :

Share in Partnership can be transferred by consent of ______ the partners.

Reconstruction of a firm occurs when :

Right of a partner to open a bank account in his own name on behalf of the firm is covered by :

Which of the following acts are within the implied authority of a partner of a firm ?

Which of the following acts is included in the implied authority of a partner ?

If a partner is expelled because of personal issues by majority of the partners it is ________ .

Change in constitution of firm takes place in following cases except :

In case of _____ the continuing guarantee given to the partnership in respect to the transactions of the firm, is revoked for the future transactions.

A firm of the expulsion of a partner is ____ under Indian Partnership Act, 1932.

According to the Indian Partnership Act, 1932, the term act of the firm means an act or omission by ____ which gives an enforceable right to or against the firm :