Indian Partnership Act - Practice Test

[#411] The period of limitation for a suit for an account and a share of the profits of a dissolved partnership, where the instrument of partnership is not registered, is

(A) One year from the date of dissolution

(B) Two years from the date of dissolution

(C) Six months from the date of dissolution

(D) Three years from the date of dissolution

Correct Answer

(D) Three years from the date of dissolution

[#412] A partnership firm is liable for the acts done by a partner within

(A) The express authority of a partner

(B) The implied authority of a partner

(C) Both (A) and (B)

(D) Either (A) or (B)

Correct Answer

(D) Either (A) or (B)

[#413] A suit of a partnership firm to enforce any type of rights of the partnership firm is not maintainable unless the partnership firm is registered under Section 69 of the Partnership Act before the filing of the suit.

(A) An unregistered firm cannot sue for any rights, be they contractual or statutory, unless the partnership firm is first registered

(B) Partnership firm can sue for enforcement of its statutory rights even if the partnership firm is not registered

(C) A partnership firm can sue for enforcement of its rights provided in the same suit both statutory and contractual rights are claimed together and not only contractual rights

(D) Even if a suit is filed for enforcement of a contractual right by an unregistered firm, but such a suit can continue if the partnership firm is got registered during pendency of the suit

Correct Answer

(B) Partnership firm can sue for enforcement of its statutory rights even if the partnership firm is not registered

[#414] In which of the following cases, a partnership does not exist? 1. Lender of money receiving profits. 2. Servants or agents receiving profits. 3. Widow or child of a deceased partner receiving profits. 4. Seller of goodwill receiving profit.

(A) 1, 2 and 3

(B) 1, 2 and 4

(C) 2, 3 and 4

(D) All of the above

Correct Answer

(D) All of the above

[#415] 'Benefits of partnership' within the meaning of section 30 of the Indian Partnership Act, 1932, means

(A) Profit sharing

(B) Assets-sharing in the event of dissolution of the firm

(C) Both (A) and (B)

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

Correct Answer

(C) Both (A) and (B)

Indian Partnership Act - Study Mode

[#411] The period of limitation for a suit for an account and a share of the profits of a dissolved partnership, where the instrument of partnership is not registered, is

Correct Answer

[#412] A partnership firm is liable for the acts done by a partner within

Correct Answer

[#413] A suit of a partnership firm to enforce any type of rights of the partnership firm is not maintainable unless the partnership firm is registered under Section 69 of the Partnership Act before the filing of the suit.

Correct Answer

[#414] In which of the following cases, a partnership does not exist? 1. Lender of money receiving profits. 2. Servants or agents receiving profits. 3. Widow or child of a deceased partner receiving profits. 4. Seller of goodwill receiving profit.

Correct Answer

[#415] 'Benefits of partnership' within the meaning of section 30 of the Indian Partnership Act, 1932, means

Correct Answer