The Indian Partnership Act,1932- Test 5

Which of the following Statement is incorrect?

Every partner is bound to attend ….. to his duties, in the conduct of the business.

In the absence of an agreement to the contrary, every partner is bound to share losses-

Property of the firm shall be held by use of partners……

Every partner is bound to indemnif the firms for any loss caused by …… in the conduct of the business.

For loss caused to the firm by his fraud in the conduct of business, every partner shall ……..

….. can assign or transfer his partnership interest to any other person, so as make him a partner in the business.

Which of the following statement is correct in relation to assignment of profit by partner?

Every partner is an agent of the …. for the purpose of the business of the firm.

Every partner is an agent of the firm and of other partners for-

The acts of every partner who does any act for carrying on in the usual the business of the kind carried on by the firm bind the firm and his partners unless:……

Authority of partner may be ……

Authority is said to be express when it is given by words,…

Where authority of a partner is conferred by mutual agreement, it is called as-

The implied authority of a partner is also known as –

Where authority of a partner is not conferred by mutual agreement, but acts of partner which are excised in ordinary course of business and which bind the firm are known …… of partner.

Which of the following conditions necessary for the exercise of implied authority?

To bind the firm under implied authority, the act must be done in the …….. of carrying on the firm’s business.

Nithin, a partner of a firm dealing in computers gives an order for wine worth 10,000 in firm’s name. Discuss the liability?

Which of these acts falls outside the implied authority?

Which of the following act falls out side the implied authority?

Which of the following act fall out side the implied authority?

Which of the following act is within the implied authority?

Which of the following act is within the implied authority?

Which of the following act is within the implied authority?