Home › CA Foundation › businesslaw › Partnership › Where one partner is better acquainted with the …
Where one partner is better acquainted with the firm's accounts in a transaction with another partner for sale of a share, Section 9 requires him to:
ARefer the matter to court
BConceal material facts to bargain better
CCharge a fee for disclosure
DDisclose all material facts (utmost good faith)
Answer & Solution
Correct answer: D. Disclose all material facts (utmost good faith)
The duty of utmost good faith under Section 9 requires the better-informed partner to disclose all material facts in dealings with co-partners.
Related questions
A car uses 4 litres of petrol for 60 km. Its mileage in km per litre is:A man covers a distance in 6 hours at 40 km per hour. To cover it in 4 hours he must traveA man travels equal distances at 40 km per hour and at 60 km per hour. His average speed iA train 200 m long crosses a 100 m platform at 36 km per hour. It takes:A train 150 m long runs at 54 km per hour. The time it takes to pass a pole is:A car covers 300 km at 50 km per hour. At 75 km per hour the same trip would take:Zaheeda doubles her speed on the same route. The time she takes:A journey takes 120 km at a steady 60 km per hour. The time taken is: