Indian Partnership Act - Study Mode
[#146] Under Section 10, every partner has a duty to indemnify the firm for any loss caused to the firm by his in the conduct of the business of the firm.
Correct Answer
(C) Fraud
[#147] The 'notice to a partner' as contemplated by section 24 of the Indian Partnership Act, 1932 should relate to
Correct Answer
(B) The affairs of the firm
[#148] Every partner is jointly and severally liable for all acts of the firm. However, a minor can be admitted to the benefits of the firm. Liability of a partner is unlimited and he is personally liable for the acts of the firm. The liability of the minor in case of the acts of the firm is
Correct Answer
(C) Not personally liable, it is only his share which is liable for the acts of the firm
[#149] The date of dissolution of a firm where the court orders for dissolution of a firm on the ground of insanity of a partner under section 44(a) of the Act, shall be
Correct Answer
(D) The date of the order or any other date fixed by the court
[#150] An application for rectification of mistake(s) in the document filed with the Registrar of firms, by a firm, under section 64 of the Indian Partnership Act, 1932
Correct Answer
(A) Has to be signed by all the partners