Indian Partnership Act, 1932 MCQs
Multiple Choice Questions (MCQs) on the Indian Partnership Act, 1932 especially compiled for Haryana Assistant District Attorney (ADA) Examination.
Questions
1. An act, to be called an 'act of a firm', within the meaning of Section 2(a) of the Indian Partnership Act, 1932 is -
a) Every act of the partners
b) Only such acts which give rise to a right enforceable by or against the firm
c) Such acts which do not give rise to a right enforceable by or against the firm
d) Either (a) or (b) or (c)
2. "Partnership" means
a) joint venture
b) agreement between the persons to share the profit of a business carried on between them
c) agreement between the persons to do some work
d) none of the above
3. The historic case laying down the test for determining the existence of partnership is
a) Grave vs. Smith
b) Waugh vs. Carver
c) Bloream vs. Pell
d) Cox vs. Hickman
4. As per Section 5 of the Indian Partnership Act, the relationship of partnership is created by :
a) Status
b) Contract
c) Statute
d) None of the above
5. A partnership is partnership at will
a) when no provision is made for duration of partnership
b) when no provision is made for determination of partnership
c) both (a) and (b) are true
d) either (a) or (b) is true
6. An agreement in restraint of trade in a partnership under Section 11 of the Indian Partnership Act is
a) valid
b) voidable
c) void
d) illegal
7. Goodwill of a partnership business is the property of the partnership
a) Under Section 14
b) Under Section 13
c) Under Section 12
d) Under Section 11
8. Out of the following statements, point out which one is not correct regarding implied authority of the partner to act as agent of the firm.
a) He has right to sell the goods or chattels of the firm.
b) He has right to receive payment of debts due to the firm.
c) He has right to make an equitable mortgage by depositing the title deeds belonging to the firm.
d) He has right to acquire immovable property on behalf of the firm.
9. The authority of a partner to bind the firm by his acts done in the usual course of business is called his "implied authority". Such authority does not include :
a) Selling the firm's goods.
b) To borrow in a trading firm.
c) Settling accounts with the persons dealing with the firm.
d) Withdraw a suit or proceeding filed on the firm's behalf.
10. On the death of a sole proprietor, his heirs automatically become the partners of old firm. The statement is
a) True
b) False
c) Partly true
d) None of the above
Answers
| Question No. | Answer |
|---|---|
| 1 | b |
| 2 | b |
| 3 | d |
| 4 | b |
| 5 | c |
| 6 | a |
| 7 | a |
| 8 | d |
| 9 | d |
| 10 | b |
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