When the minor elects not to become not to become a partner, his rights and Iiabilites ….
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Question 2 of 25
2. Question
1 points
When the minor elects not to become a partner, his share is not liable for any acts of the firm done ……..
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Question 3 of 25
3. Question
1 points
A minor is personally liable for the debts of the firms.
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Question 4 of 25
4. Question
1 points
Where a minor on attaining majority, elects to become a partner, he does not become personally liable as other partners to the third parties for all the acts of the firm done since he was admitted to the benefits of partnership.
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Question 5 of 25
5. Question
1 points
If minor becomes or elects to become a partner, his position will be …….
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Question 6 of 25
6. Question
1 points
Which partner has a right to take part in the conduct and management of the business?
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Question 7 of 25
7. Question
1 points
Which type of partner has a right of free access to all record, books and accounts of the business and also to examine and copy them?
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Question 8 of 25
8. Question
1 points
Every partner whether active or dormant, has a right of free access to all ….. of the business and also to examine and copy them.
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Question 9 of 25
9. Question
1 points
Every partner is entitled to share in the profits …. unless different proportions are stipulated.
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Question 10 of 25
10. Question
1 points
Where a partner has advanced any loan to the firm and the agreement provides for interest, but does not specify any rate, the rate shall be
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Question 11 of 25
11. Question
1 points
A partner claim interest on capital …..
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Question 12 of 25
12. Question
1 points
Subject to contract between the partners, where a partner is entitled to interest on his capital, such interest shall be payable-
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Question 13 of 25
13. Question
1 points
Subject to contract between the partners, for taking part in the conduct of the business, a partner is …….
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Question 14 of 25
14. Question
1 points
Partner shall indemnify the firm for any loss caused to it by his …. in the conduct of the firms’s business.
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Question 15 of 25
15. Question
1 points
Statement X: A partner has no power to act in an emergency for protecting the firm from loss.
Statement Y: Not every partner has a right to retire by giving notice where the partnership is at will.
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Question 16 of 25
16. Question
1 points
Which of the following is not a right of partner?
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Question 17 of 25
17. Question
1 points
Statement 1: An incoming partner will be liable for debts or liabilities of the firm before he becomes a partner.
Statement 2: Even in case of invalid expulsion a partner has no right to claim damages.
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Question 18 of 25
18. Question
1 points
In good faith and based on the contract between partners, a partner may be expelled from the firm by-
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Question 19 of 25
19. Question
1 points
When a partner is expelled otherwise than in good faith it is-
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Question 20 of 25
20. Question
1 points
ABC& Co., a firm consists of three partners A, B and C having one-third share each in the firm. According to A and B the activities of C are not in the interest of the partnership and thus want to expel C from the firm. Advise A and B whether they can do so.
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Question 21 of 25
21. Question
1 points
Statement A: When a partner is expelled otherwise than in good faith, it is null and void and he continues to be a partner.
Statement B: The outgoing partner cannot carry on a competing business or advertise such business.
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Question 22 of 25
22. Question
1 points
Where the outgoing partner carries on a competing business, which of the following is permissible?
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Question 23 of 25
23. Question
1 points
Every partner is bound to carry on the business of the firm…..
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Question 24 of 25
24. Question
1 points
Which of the following is NOT covered by general duties of partners?
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Incorrect
Question 25 of 25
25. Question
1 points
Which of the following is NOT covered by the general NOT covered by the general duties of partners?
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