Question
According to Indian Partnership Act, 1932 In the
absence of any usage or custom of trade to the contrary, which of the following actions is within the implied authority of a partner?Solution
Section 19 of Indian Partnership Act, 1932 Subject to the provisions of section 22, the act of a partner which is done to carry on, in the usual way, business of the kind carried on by the firm, binds the firm. The authority of a partner to bind the firm conferred by this section is called his “ implied authority”. (2) In the absence of any usage or custom of trade to the contrary, the implied authority of a partner does not empower him to— (a)submit a dispute relating to the business of the firm to arbitration, (b)open a banking account on behalf of the firm in his own name, (c)compromise or relinquish any claim or portion of a claim by the firm, (d) withdraw a suit or proceeding filed on behalf of the firm, (e)admit any liability in a suit or proceeding against the firm, (f) acquire immovable property on behalf of the firm, (h) transfer immovable property belonging to the firm, or (g) enter into partnership on behalf of the firm Â
Which of the following cases dealt with royalty payments for music used in films?
As per the Employees’ Compensation Act, 1923 in the case of death resulting from injury, the amount of compensation payable to an employee is —
...The mortgagor binds himself to repay the mortgage-money on a certain date, and transfers the mortgaged property absolutely to the mortgagee, but subject...
In which of these scenarios would the right of private defense of body not extend to causing death?
What is the purpose of reservations in the Indian Constitution?
Section 35A(1) of the Banking Regulation Act, 1949 empowers the Reserve Bank to issue directions to banking companies generally or to any banking compan...
Under Section 2(g), the definition of 'debt' includes which of the following liabilities?
As per the provisions of the IRDA Act with respect to the tenure of office of the chairperson and other persons, no person shall hold office as a Chairp...
'Proceeds of crime' as defined under Section 2(u) of PMLA means:
Partner's liability for acts of the firm is___?