Indian Partnership Act - Practice Test

(A) Rule of majority

(B) Rule of unanimity

(C) Both (A) and (B)

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

(C) Both (A) and (B)

(A) Competent to sue the firm for account and payment of his share of profits of the firm

(B) Competent to sue the firm for account and payment of his share of property of the firm

(C) Competent to sue the firm for account and payment of his share of both profits and property of the firm

(D) Incompetent to sue the firm for account or payment of his share either of profits or property of the firm

(D) Incompetent to sue the firm for account or payment of his share either of profits or property of the firm

(A) Consent of all the partners

(B) Where there is an agreement about retirement, in accordance with the terms of that agreement whether the other partners are willing or not

(C) Giving a notice of his intention to retire

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

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

(A) Not interested in the business of the firm

(B) Not liable to outsider

(C) Entitled to share profits only

(D) Neither active nor known to outsiders

(D) Neither active nor known to outsiders

(A) With the consent of all the existing creditors of the firm

(B) With the consent of all the partners

(C) With the consent of the guardian of such minor

(D) All of these

(B) With the consent of all the partners

Indian Partnership Act - Study Mode