Indian Partnership Act - Study Mode
[#361] A partner cannot contract himself out of which of the following duties? (1) Duty of utmost good faith, i.e. uberrimae fidei. (2) Duty of carry on business to greatest common advantage. (3) Duty to render true accounts and full information. (4) Duty to indemnify for fraud. (5) Duty to indemnify for willful neglect. (6) Duty to properly use the firm's property.
Correct Answer
(C) (1), (2), (3) and (5)
[#362] The Indian Partnership Act, 1932 provides for and recognises
Correct Answer
(C) Both (A) and (B)
[#363] A partnership in which the number of partners exceeds than that allowed under section 11 of the Indian Companies Act, shall be
Correct Answer
(D) Illegal
[#364] Identify the correct statement with respect to the Law of Partnership?
Correct Answer
(D) Unless there is a contract to the contrary, death of a partner will automatically lead to the dissolution of the partnership
[#365] Read Assertion (A) and Reason (R) and answer using given below: Assertion (A): Partner of an erstwhile unregistered partnership firm can bring a suit to enforce a right arising out of a contract falling within the ambit of Section 69 of the Indian Partnership Act. Reason (R): Because Judgement in case of Loonkaran Sethia v. Ivan E. John laid down above judicial principle.
Correct Answer
(B) Both (A) and (R) are wrong