Question

Partner's liability for acts of the firm is___?

A Jointly with other partners Correct Answer Incorrect Answer
B Severally for all acts of the firm. Correct Answer Incorrect Answer
C Jointly for acts of the firm and severally with other partners Correct Answer Incorrect Answer
D Both A and B. Correct Answer Incorrect Answer

Solution

  S. 25 LIABILITY OF A PARTNER FOR ACTS OF THE FIRM.   Every partner is liable jointly with all the other partners and also severally, for all acts of the firm done while he is a partner.

Practice Next
×
×