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CA Foundation Partnership — practice questions — page 2

Explore 71 free Partnership questions in CA Foundation Businesslaw. Open each question or exercise to read its content, reference answers and available explanation.

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Partnership questions and exercises with answers

Showing questions 31–60 of 71.

Notice to a habitually acting partner operates as notice to whom?Read the answer and worked solution →Notice to an acting partner does not bind the firm in case of what?Read the answer and worked solution →A partner's liability for the firm's acts is of what nature?Read the answer and worked solution →A partner acting within apparent authority misapplies a client's money. Who pays?Read the answer and worked solution →Liability of a person who poses as a partner is known as what?Read the answer and worked solution →Holding out liability reaches those who did what on faith of the representation?Read the answer and worked solution →A deceased partner's name stays in the firm name. His estate is what?Read the answer and worked solution →A minor may be admitted to what in a firm?Read the answer and worked solution →A minor admitted to the benefits of partnership is personally liable for what?Read the answer and worked solution →A former minor must elect on partnership within how long after majority?Read the answer and worked solution →A minor who gives no notice within the period then becomes what?Read the answer and worked solution →A minor admitted to benefits may sue for his share only when what?Read the answer and worked solution →In a partnership at will, a partner may retire by doing what?Read the answer and worked solution →A retired partner stays liable to third parties until what?Read the answer and worked solution →A partner adjudged insolvent ceases to be a partner from when?Read the answer and worked solution →If the firm continues after a death, the estate is not liable for what?Read the answer and worked solution →A post-exit agreement not to compete is valid only if restrictions are what?Read the answer and worked solution →Interest on an outgoing partner's unsettled share is at what rate?Read the answer and worked solution →A continuing guarantee to a firm ends for future dealings upon what?Read the answer and worked solution →A firm can be dissolved by agreement with whose consent?Read the answer and worked solution →Dissolution of partnership between all partners is called what?Read the answer and worked solution →A firm is compulsorily dissolved when all partners but one are what?Read the answer and worked solution →If only one of several adventures becomes unlawful, the firm is affected how?Read the answer and worked solution →Subject to contract, a firm for a fixed term is dissolved by what?Read the answer and worked solution →Which ground can the court accept to dissolve a firm on a partner's suit?Read the answer and worked solution →The business can be carried on only at a loss. Court may do what?Read the answer and worked solution →Entries of registered firms are recorded in what?Read the answer and worked solution →Which word may a firm name not contain without government consent?Read the answer and worked solution →The registration statement must be signed by whom?Read the answer and worked solution →Which detail must the registration statement give about each partner?Read the answer and worked solution →

Worked practice questions

Notice to a habitually acting partner operates as notice to whom?

  1. Only that partner
  2. The Registrar
  3. The senior partner
  4. The whole firm
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Correct answer: D. The whole firm

Notice to a partner who habitually acts in the business is treated as notice to the firm itself.

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Notice to an acting partner does not bind the firm in case of what?

  1. Fraud on the firm
  2. A routine order
  3. A bulk purchase
  4. A late delivery
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Correct answer: A. Fraud on the firm

The rule yields where the partner commits a fraud on the firm or with his consent, since he would not pass on the notice.

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A partner's liability for the firm's acts is of what nature?

  1. Several only
  2. Joint and several
  3. Jointly alone
  4. Capital-limited
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Correct answer: B. Joint and several

Section 25 makes each partner liable jointly with the others and also severally, without a capital cap.

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More Businesslaw topics

Negotiable Instruments Act 1881Nature of ContractsAgencyThe Limited Liability Partnership Act 2008Contract of Indemnity and GuaranteeBreach of Contract and its RemediesPerformance of ContractCompanies Act 2013