Online Exam in Relations of Partners in Mercantile Laws for the preparation of professional exams of ca cpt, ca foundation, cs foundation, cma foundation
Relations of Partners - Test 1
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Subject :- Mercantile law No.of Quiz questions :- 30
Chapter :- Relations of Partners – Test 1
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A third party deals with the firm without knowledge that Mr.X has been expelled from the firm. In such a case, Mr X _____ :
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Question 3 of 30
3. Question
1 points
In case of transfer of partner’s interest u/s 29, the transferee is entitled to interfere with the conduct of the business :
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Question 4 of 30
4. Question
1 points
A new partner can be admitted in the firm with the consent of :
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Question 5 of 30
5. Question
1 points
A third party is not affected by the limitation of implied authority unless he has actual notice of it :
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Question 6 of 30
6. Question
1 points
Expulsion of a partner which is not in accordance with the provisions of Section 33 of the Indian Partnership Act, 1932 is _____ :
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Question 7 of 30
7. Question
1 points
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 ?
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Question 8 of 30
8. Question
1 points
Partnership property vests in the :
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Question 9 of 30
9. Question
1 points
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 ?
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Question 10 of 30
10. Question
1 points
As per Section 29 of the Indian Partnership Act, 1932 a partner may transfer his interest in the firm ____ :
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Question 11 of 30
11. Question
1 points
An irregularly expelled partner has :
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Question 12 of 30
12. Question
1 points
A change in nature of business can be effected only by :
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Question 13 of 30
13. Question
1 points
The implied authority of a partner in a firm does not empower him to :
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Question 14 of 30
14. Question
1 points
The test of good faith is provided under Section 33(1) of the Indian Partnership Act, 1932 requires the following :
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Question 15 of 30
15. Question
1 points
Retiring partner continues to be liable for acts of the firm done :
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Question 16 of 30
16. Question
1 points
The heirs of the deceased partner :
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Question 17 of 30
17. Question
1 points
The implied authority of any partner may be :
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Question 18 of 30
18. Question
1 points
A retiring partner does not have the following except :
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Question 19 of 30
19. Question
1 points
Under the Indian Partnership Act, 1932, in the absence of an agreement, a partner is :
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Question 20 of 30
20. Question
1 points
Reconstitution of firm takes place in case of :
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Question 21 of 30
21. Question
1 points
Share in Partnership can be transferred by consent of ______ the partners.
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Question 22 of 30
22. Question
1 points
Reconstruction of a firm occurs when :
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Question 23 of 30
23. Question
1 points
Right of a partner to open a bank account in his own name on behalf of the firm is covered by :
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Question 24 of 30
24. Question
1 points
Which of the following acts are within the implied authority of a partner of a firm ?
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Question 25 of 30
25. Question
1 points
Which of the following acts is included in the implied authority of a partner ?
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Question 26 of 30
26. Question
1 points
If a partner is expelled because of personal issues by majority of the partners it is ________ .
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Question 27 of 30
27. Question
1 points
Change in constitution of firm takes place in following cases except :
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Question 28 of 30
28. Question
1 points
In case of _____ the continuing guarantee given to the partnership in respect to the transactions of the firm, is revoked for the future transactions.
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Question 29 of 30
29. Question
1 points
A firm of the expulsion of a partner is ____ under Indian Partnership Act, 1932.
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Question 30 of 30
30. Question
1 points
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 :