Which is NOT a characteristic of partnership firms?

Related MCQs

• 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:
• A partnership for which no period or duration is fixed under the Indian Partnership Act is known as :
• The term 'partnership' has been defined under…………of the Partnership Act, 1932:
• Under section 4 of the Indian Partnership Act, 1932, partnership is a:
• Limited Liablility partnership is a form of partnership that:
• For constituting a partnership within the meaning of section 4 of the Indian Partnership Act,1932.
• 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 -
• 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 partnership firms becomes an illegal association, when:
• The unrepealed provisions of the Act shall continue to apply to firms, save insofar as they are inconsistent with the express provisions of the Partnership Act.