Indian Partnership Act - Study Mode
[#396] Under section 19 a partner has an implied authority to
Correct Answer
(D) Neither (A) nor (B)
[#397] Which of the following is not an implied right of the partner under the Indian Partnership Act, 1932 as per Section 19 of the Act?
Correct Answer
(D) To open a bank account on behalf of the firm in his own name
[#398] Notice of intention to retire by a partner under section 32(1)(c) of the Indian Partnership Act, 1932, should be served on
Correct Answer
(C) All the partners
[#399] The relation of partnership according to Section 5 of Indian Partnership Act, 1932 arises from
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(B) Contract
[#400] Read Assertion (A) and Reason (R) and answer using below: Assertion (A): Salary drawn by a partner from the firm for his services rendered to it has been treated different from his right to get an additional amount in the form of salary as his share of the firm's profit. Reason (R): Because R. M. Chidambaram Pillai v. Commissioner of Income Tax case laid down above principle.
Correct Answer
(B) Both (A) and (R) are wrong