Legal Bites presents the Law of Partnership Important Question-Answer Series.

Legal Bites presents the Law of Partnership Important Question-Answer Series. The questions listed here will help students study for various Competitive and University Exams. Candidates can use Legal Bites' list of questions to help them determine the most important and often asked questions and practice their aptitude and knowledge.

Answering questions is a continuous process that is an inevitable component of any test preparation, as we all know. A well-written response displays not just a candidate's knowledge but also his or her ability to tailor the content to the question's requirements.

It is vital to prepare for this exam to pass it thoroughly. To attain mastery over the subjects studied, applicants only need to keep practising these questions in the months coming up to the examinations. Following it, the candidate's confidence level, as well as their scores, will vastly improve.

Law of Partnership Question Answer Series 4: Important Questions for Judiciary Exams | Part – IV

Question 1

A agrees with B, a goldsmith, to buy and furnish gold to B, to be worked up by him and sold, and that they shall share in the resulting profit or loss. Are A and B partners? Give reasons.

Question 2

"Sharing of profit is prima facie evidence of partnership, but not conclusive." Discuss.

Santosh is wife of Alok. She gave her stridhan to Alok. Alok started his business from that Stridhan. Whether Santosh and Alok are partners? [UPJS 2016]

Question 3

A partnership firm opened a bank account. The account was to be operated by 'A' and another partner jointly. No authority was given to 'A' to act as an agent of the firm. 'A' executed an acknowledgement in favour of the bank. Is the firm bound by the acknowledgement given by 'A'? Discuss. [DJS 2011]

Question 4

i) Can a minor be admitted to the benefits of partnership? If so, what are his rights and disabilities? Refer to relevant case laws.

ii) 'A' a partner in a firm of solicitors draws a Bill of Exchange in the name of the firm without authority. Decide the liability of the firm in this respect. [UPJS 2013]

Question 5

Comment on the statement that dissolution involves a change in the relation of partners but does not end partnership. [HJS 1988]

Question 6

What is Firm? [RJS 1984]

Question 7

"Partnership by holding out is the extension of the doctrine of estoppel." Explain how can such a partner save himself from any future liability of such firm. [HJJS 1996]

Question 8

'A' and 'B' are two partners of firm X. A died. After death of 'A', 'B' acknowledged debt of firm. Are legal representatives of 'A' bound by acknowledgement executed by 'B'? Discuss. [Punj JS 2007]

Question 9

A, a partnership firm filed a suit against B to recover Rs. 50,000. The suit was dismissed on the ground that it was not maintainable since the partnership firm was not registered as required by the provisions of the Indian Partnership Act, 1932. Thereafter the firm was registered and the subsequent suit was filed on the same cause of action. Is the suit barred by res judicata. Discuss. [Punj JS 2006]

Question 10

A decree is passed against an unregistered firm. Can an objection be raised in execution proceeding that such decree is in executable being in violation of Section 69(2) of the Partnership Act? [RJS 1986]

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Updated On 1 July 2023 10:15 AM GMT
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