alleryStart learning →A partner's liability for the firm's acts is of what nature?
ASeveral only
BJoint and several
CJointly alone
DCapital-limited
Answer & Solution
Correct answer: B. Joint and several
Section 25 makes each partner liable jointly with the others and also severally, without a capital cap.
Keep practising Partnership
Browse all Partnership questions for CA Foundation, or explore more Businesslaw topics.
Related questions
A fixed-term firm carrying on after expiry takes the incidents of what?While settling accounts after dissolution, goodwill is treated as what?A partner rescinding for fraud ranks as what regarding debt payments he made?No premium refund follows when dissolution is mainly due to what?After dissolution, a partner's authority continues for what purpose?Which is repaid first among partners after outside debts?Settling accounts after dissolution, firm assets first pay what?Public notice of a registered firm's dissolution includes which publication?