Indian Partnership Act - Study Mode
[#276] The relation of partnership arises from contract and not from status, has been prescribed under
Correct Answer
(B) Section 5
[#277] No partnership agreement, what will be the percentage of profit sharing ratio between them?
Correct Answer
(B) Equal
[#278] Any act or omission, to be an act of a firm, within the meaning of section 2(a) of the Indian Partnership Act, 1932 must be act or omission of
Correct Answer
(D) Either (A) or (B) or (C)
[#279] In the absence of a public notice of the fact of dissolution of the firm, the authority of partners
Correct Answer
(C) Stands determined between the partners but publicly it continues
[#280] Under section 34 of the Indian Partnership Act, 1932, on adjudication of a partner as insolvent, the partnership firm
Correct Answer
(C) May or may not dissolve depending on the contract between the partners