Indian Partnership Act - Study Mode
[#321] Under the Indian Partnership Act, 1932, where the partnership is at will, the firm may be dissolved by any partner by giving notice in writing of his intention to:
Correct Answer
(A) All the other partners
[#322] The distribution of surplus on dissolution of partnership
Correct Answer
(A) Does not amount to transfer of assets
[#323] Who is a dormant partner?
Correct Answer
(B) He is not known to outsiders as a partner, does not take part in the management
[#324] When a transferring partner ceases to be a partner in the firm or where the firm comes, to be dissolved, the transferee of the partner's interest in the firm is entitled to
Correct Answer
(C) Both (A) and (B)
[#325] A right to participate in profits, although strong but not a conclusive test of partnership. It was so held in
Correct Answer
(B) Cox v. Hickman