Indian Partnership Act - Practice Test

(A) By retirement

(B) By expulsion

(C) By insolvency

(D) By Death

By retirement

(A) Must be in writing which may be vague

(B) Must be in writing which may be ambiguous

(C) Must be in writing, factual, explicitand final

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

(C) Must be in writing, factual, explicitand final

(A) Is for pre-existing debts of the firm

(B) Commences from the date of his admission

(C) Depends on the agreement between the partners

(D) Is for the pre-existing debts as well as the one contracted after his admission

(B) Commences from the date of his admission

(A) Six percent

(B) Nine percent

(C) Twelve percent

(D) Fifteen percent

(A) Six percent

(A) Expressly inform the other party that he intends to act for the firm

(B) Impliedly inform the other party that he intends to act for the firm

(C) Either (A) or (B)

(D) Only (A) and not (B)

(C) Either (A) or (B)

Indian Partnership Act - Study Mode