To avoid liability to third parties, public notice of retirement should be given. Such public notice must be given—

Related MCQs

• Notice to a partner operates as notice to the firm. For such purpose, notice may be given to:
• Under section 97, of the Negotiable Instruments Act when the party to whom notice of dishonour is dispatched is dead, but the party despatching the notice is ignorant of his death, the notice is
• A, B and C are partners. C is a sleeping partner who is not known to the creditors. C retires without giving public notice of his retirement. Is C liable for subsequent debts incurred by A and B.
• The law regarding Novation, i.e., where a new contract is substituted in place of the old one by means of an agreement between the parties to a contract or between them and a third party, is contained in
• When a minor on attaining the age of majority, has elected to become a partner, he becomes personally liable to third parties for all the acts of the firm from the date of his:
• Retiring partner continues to remain liable to third parties for acts of the firm :—
• Upon dissolution, the firm's assets after settlement of the debts of the firm to third parties and partners' Loans, shall then be applied in —
• A notice in writing by one partner must be given to all the partners of the firm in case of:
• If a contract of sale stipulates that price will be fixed by a third party on valuation of the goods, and the third party shows inability to do so, then,
• Where there is an agreement to sell goods on the price fixed by a third party on valuation, but the third party refuses to do so, and the buyer appropriates part of the goods delivered to him.