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

    Question

    As per Partnership Act, In case a partner causes loss to

    any third party, liability rests with____.
    A Partner who is wrongful Correct Answer Incorrect Answer
    B The firm. Correct Answer Incorrect Answer
    C All the partners individually. Correct Answer Incorrect Answer
    D Both A and B. Correct Answer Incorrect Answer
    E Both A and C. Correct Answer Incorrect Answer

    Solution

    Partnership Act  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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