Question

What is the liability of a partner towards the firm for

Q: Answer-What is the liability of a partner towards the firm for any loss caused to the firm by the fraud on...

Section 10. Duty to indemnify for loss caused by fraud Every partner shall indemnify the firm for any loss caused to it by his fraud in the conduct of the business of the firm.

any loss caused to the firm by the fraud on the part of the partner in the conduct of the business of the firm as laid down under the Partnership Act?

A Duty to indemnify

B Duty of warranty

C Duty of guarantee

D Duty to take the liability

E As may be mutually agreed upon by the partners

Practice Next

More Administrative Interpretation and Maxims Questions

Which constitutional amendment in the United States guarantees freedom of speech?
Under the provisions of Code 76 of the Occupational Safety, Health and Working Conditions Code, 2020, what happens if a worker is entitled to more favo...
As per S.9 of CPC, courts should try all suits of a civil nature _________________________.
Which of the following is not the function of the Authority under the Airports Authority of India Act?
An appeal from the order of the Central Authority shall lie to?

What is the liability of a partner towards the firm for

Solution