Subject to contract between the partners, and pursuant to section 13 of the Indian partnership, the following statement is correct:

Related MCQs

• According to section 31 of the Act, subject to the contract between the partners and to the provisions of section 30, no person shall be introduced as a partner into a firm:
• X, Y and Z are partners in a firm. X, without the authority of Y and Z buys certain shares in his name out of partnership money. Will 'shares' constitute partnership property?
• The relation of partnership arises from contract and not from status and in particular the Indian Partnership Act does not apply to the family business carried on by:
• Under section 4 of the Indian Partnership Act, 1932, partnership is a:
• For constituting a partnership within the meaning of section 4 of the Indian Partnership Act,1932.
• Subject to contract between the partners, a partner does not have any one of the following rights:
• Consider the following statements: 1. There is no difference between the English law and Indian law with regard to acceptance through post. 2. Both under the English law and the Indian law a contract is concluded when the letter of acceptance is posted 3. Under the Indian law when the letter of acceptance is posted it is complete only as against the proposer. 4. It is complete only as against the proposer. Which of the above statements is/are correct?
• Where no time is expressly stated for its duration and there is no contract to fix the duration, the partnership may be terminated at a moment's notice by the other party. This partnership is called -
• Which of the following types of contracts are generally termed uberrimae fidei contracts? 1. Insurance contracts. 2. Contract for purchase of car. 3. Partnership contracts. 4. Quasi-contract. Select the correct answer using the code given below:
• A partnership for which no period or duration is fixed under the Indian Partnership Act is known as :