ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!


    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. ┬а

    Practice Next
    More Other Laws and Acts Questions
    ask-question