Indian Partnership Act - Practice Test

[#211] Section 27 of the Act recognizes the liability of the firm for a particular kind of wrong done by a partner.

(A) Misapplication of money or property received from a third party

(B) Misusing the authosrity vested

(C) Acts done against public policy

(D) None of the above

Correct Answer

(A) Misapplication of money or property received from a third party

[#212] Which of the dissolution does not amount to compulsory dissolution?

(A) By adjudication of all the partners as insolvent

(B) By adjudication of all but one partner as insolvent

(C) By the happening of an event which makes it unlawful for the business of the firm to be carried on

(D) Dissolution with the consent of all the partners

Correct Answer

(D) Dissolution with the consent of all the partners

[#213] A partnership firm is required to be registered under

(A) The Indian Registration Act, 1908

(B) The Companies Act, 1956

(C) The Indian Partnership Act, 1932

(D) Indian Contract Act, 1872

Correct Answer

(C) The Indian Partnership Act, 1932

[#214] Partnership is . . . . . . . .

(A) Juristic person

(B) Group of people

(C) Not a juristic person

(D) A firm

Correct Answer

(C) Not a juristic person

[#215] In Commissioner of Income Tax v. Seth Govindram Sugar Mills, AIR 1966 SC 24, it has been held

(A) A clause in the partnership agreement enabling a partner to nominate his successor does not apply to a partnership of two partners which is dissolved by the death of one of them

(B) A clause in the partnership agreement enabling a partner to nominate his successor is valid in case of a partnership of two persons which may be dissolved by the death of one of them

(C) None can be introduced in the partnership by nomination

(D) None can be introduced in the partnership without the consent of all the partners

Correct Answer

(A) A clause in the partnership agreement enabling a partner to nominate his successor does not apply to a partnership of two partners which is dissolved by the death of one of them

Indian Partnership Act - Study Mode

[#211] Section 27 of the Act recognizes the liability of the firm for a particular kind of wrong done by a partner.

Correct Answer

[#212] Which of the dissolution does not amount to compulsory dissolution?

Correct Answer

[#213] A partnership firm is required to be registered under

Correct Answer

[#214] Partnership is . . . . . . . .

Correct Answer

[#215] In Commissioner of Income Tax v. Seth Govindram Sugar Mills, AIR 1966 SC 24, it has been held

Correct Answer