Law of Partnership Question Answer Series 1: Important Questions for Judiciary Exams
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 1: Important Questions for Judiciary Exams | Part – I
Can a Partner withdraw a suit or proceeding filed on behalf of the firm? Explain with relevant statutory provisions and judicial decisions. [Punj JS 2019]
All the partners of a firm are jointly and severally liable personally to third parties qua their act as partners of the firm. Is there any exception to the above? Explain. [Punj JS 1995 (II)]
Explain implications of limited liability partnership under the Indian Partnership Act. [HJS 2019]
Define Partnership and discuss the mode of determining its existence. [BJS 1986]
What are the essential elements of partnership? Explain with illustration and distinguish a partnership from company. [HJS 1996, Punj JS 2010]
Can a minor be partner in a firm? If so, discuss his position before attaining majority and after attaining majority? [Punj JS 2007]
Partner embraces the character of both that of a Principal and Agent. Comment, bringing out the scope of implied authority of a partner to bind a firm. One of the partners of a firm bribed the clerk of a rival firm in order to get some confidential information. Are other partners of the firm liable for the act of the partner? [BJS 1978]
What do you mean by ‘goodwill’ of the firm? Can the goodwill of the firm be sold? [BJS 2006]
“Every ordinary commercial or trading partnership is presumed to be based on the mutual trust and confidence of each partner in the skill, knowledge and integrity of every other partner.” Comment upon the above statement. [RJS 1979]
Can a partner use the partnership property for his own private purpose and carry on competing business? If not, what is the result if he does so? [UPJS 2018]