📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      According to Indian Partnership Act, 1932 the mutual

      rights and duties of partners in a firm can be determined by:
      A Government regulations Correct Answer Incorrect Answer
      B Court rulings Correct Answer Incorrect Answer
      C Partnership agreement between the partners Correct Answer Incorrect Answer
      D Consumer demands Correct Answer Incorrect Answer
      E Random selection Correct Answer Incorrect Answer

      Solution

      Section 11 of Indian Partnership Act, 1932 Subject to the provisions of this Act, the mutual rights and duties of the partners of a firm may be determined by contract between the partners, and such contract may be expressed or may be implied by a course of dealing. Such contract may be varied by consent of all the partners, and such consent may be expressed or may be implied by a course of dealing. (2) Notwithstanding anything contained in section 27 of the Indian Contract Act, 1872 (9 of 1872), such contracts may provide that a partner shall not carry on any business other than that of the firm while he is a partner.  

      Practice Next
      More Other Laws and Acts Questions

      Relevant for Exams:

      ask-question