New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    As per Partnership Act, in which of the following cases

    partners have the duty to indemnify the loss caused to the firm?
    A Loss is caused by fraud of the creditors Correct Answer Incorrect Answer
    B Loss is caused by fraud of partners Correct Answer Incorrect Answer
    C Loss caused by anybody Correct Answer Incorrect Answer
    D Firm dissolves Correct Answer Incorrect Answer
    E Any of the above Correct Answer Incorrect Answer

    Solution

    As per s.10 of the Partnership Act, loss caused to the firm by fraud of partners is to be indemnified by the partners. It is their duty.

    Practice Next

    Relevant for Exams: