Indian Partnership Act - Practice Test

(A) Name of the firm as plaintiff

(B) Name of the partner as plaintiff

(C) Name of a managing partner

(D) Either (A) or (B) (C)

(A) Name of the firm as plaintiff

(A) An active partner

(B) A dormant partner

(C) (A) and (B) both

(D) Either (A) or (B)

(A) An active partner

(A) Only that partner will be liable who has entered into the contract

(B) That partner and all his co-partners shall be liable

(C) Only the other co-partners shall be liable

(D) Neither that partner nor his co-partners shall be liable

(B) That partner and all his co-partners shall be liable

(A) Authorises the partners to alter the statutory scheme prescribed under section 36(1) of the Act, by agreement

(B) Prohibits the partners to alter the statutory scheme prescribed under section 36(1) of the Act by agreement

(C) Authorises the partners to alter the statutory scheme prescribed under section 36(1) of the Act, particularly only, by agreement

(D) Either (B) or (C)

(A) Authorises the partners to alter the statutory scheme prescribed under section 36(1) of the Act, by agreement

(A) No interest is chargeable

(B) Interest is chargeable @ 6% p.a.

(C) Interest is chargeable @ 9% p.a.

(D) Interest is chargeable @ 12% p.a.

(A) No interest is chargeable

Indian Partnership Act - Study Mode