Question
Under the Indian Partnership Act, 1932, the liability of
partners for the firm's debts is:Solution
Section 9 of the Indian Partnership Act, 1932 provides that every partner is jointly and severally liable with the firm for all debts and obligations of the firm. This means a creditor can proceed against any partner for the entire debt. However, partners can be indemnified by the firm. Section 14 limits partners' rights to manage and bind the firm. [Citation: Sections 9 and 14, Indian Partnership Act, 1932]
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In each of the following questions, a word has been given and used in three statements. You are supposed to identify which of the statements/s use/s th...
Directions: In each question below, word is used in four different ways. Choose the option in which the usage of the word is INCORRECT or INAPPROPRIATE....
In each of the following questions, a word has been given and used in three statements. You are supposed to identify which of the statement/s use/s th...
Change
I. Empowering and motivating the head of schools to take the lead and be the change agent for their school would be the key focus of thi...
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Select the most appropriate ANTONYM of the given word.
WARM
Select the most appropriate antonym of the given word.
Indolent
Accumulated
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