Indian Partnership Act - Practice Test

[#451] In Shreeram Finance Corporation v. Yasin Khan & Others, AIR 1989 SC 1764, it has been held that

(A) Where there was a change in the constitution of the firm, a suit instituted after change in constitution, but before the change notified in the register, is not maintainable

(B) Where there was a change in the constitution of the firm, a suit instituted after the change but before the change notified in the register is maintainable, as the notifying change in the register shall relate back to the date of application for change

(C) The maintainability of a suit, where there was a change in the constitution of the firm, a suit instituted after the change but before the change notified in the register, shall be in the discretion of the court

(D) Both (B) and (C)

Correct Answer

(A) Where there was a change in the constitution of the firm, a suit instituted after change in constitution, but before the change notified in the register, is not maintainable

[#452] 'Just and equitable' within the meaning of section 44(g) of the Act, means

(A) Convenient

(B) Something more than convenient

(C) Opinion of the court to be the best course

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

Correct Answer

(B) Something more than convenient

[#453] The liability by holding out is an application of

(A) Principle of undisclosed principal

(B) Principle of estoppel

(C) Principle of equity

(D) Principle of agency

Correct Answer

(B) Principle of estoppel

[#454] As a general rule

(A) A partner can bring an action against the other partner for partnership without praying for dissolution

(B) A partner cannot bring an action against the other partner for partnership without praying for dissolution

(C) A partner can bring an action against the other partner for partnership accounts without praying for dissolution only With the permission of the court

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

Correct Answer

(B) A partner cannot bring an action against the other partner for partnership without praying for dissolution

[#455] How a partnership may be dissolved by agreement?

(A) With the consent of all the partners

(B) With the consent of all but two partners

(C) With the consent of majority of partners

(D) If any partner gives notice of dissolution

Correct Answer

(A) With the consent of all the partners

Indian Partnership Act - Study Mode

[#451] In Shreeram Finance Corporation v. Yasin Khan & Others, AIR 1989 SC 1764, it has been held that

Correct Answer

[#452] 'Just and equitable' within the meaning of section 44(g) of the Act, means

Correct Answer

[#453] The liability by holding out is an application of

Correct Answer

[#454] As a general rule

Correct Answer

[#455] How a partnership may be dissolved by agreement?

Correct Answer