Question

    According to the decision given in the case of Garner

    vs. Murray, solvent partners have to bear the loss due to insolvency of a partner and have to categorically put that the normal loss on realization of assets to be borne by all partners (including insolvent partners) in the ______ but a loss due to insolvency of a partner has to be borne by the solvent partners in the ______.
    A Equal ratio, Equal ratio Correct Answer Incorrect Answer
    B Capital ratio, Equal ratio Correct Answer Incorrect Answer
    C Equal ratio, Capital ratio Correct Answer Incorrect Answer
    D Profit sharing ratio, Capital ratio Correct Answer Incorrect Answer

    Solution

    The correct answer is D

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