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      Question

      A firm shall___________ for wrongful acts of a partner.

      A Not be liable. Correct Answer Incorrect Answer
      B Be liable Correct Answer Incorrect Answer
      C Liable (only if some profit earned by company.) Correct Answer Incorrect Answer
      D Partially liable Correct Answer Incorrect Answer
      E None of the above. Correct Answer Incorrect Answer

      Solution

      S.26 Liability of the firm for wrongful acts of a partner - Where by the wrongful act or omission of a partner acting in the ordinary course of the business of a firm, or with the authority, of his partners, loss or Injury is caused to any third party, or any penalty is incurred, the firm is liable therefor to the same extent as the partner.

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