Is a sleeping* partner liable to the acts of other partners?
SOLUTION Yes, sleeping partner is liable to the acts of other partners.
State the provisions of Indian Partnership Act regarding the payment of remuneration to a partner for the services rendered.
SOLUTION As per the Indian Partnership Act, in the absence of partnership deed, no remuneration is allowed to any partner for the services rendered.
How are mutual relations of partners governed in the absence of Partnership Deed?
SOLUTION In the absence of a ‘Partnership Deed’, mutual relations of partners’ are governed according to Partnership Act, 1932.
What is partnership deed?
SOLUTION Partnership deed is a written agreement containing the terms and conditions agreed by the partners.
A partnership firm has 50 members. All the partners have agreed to admit Ram and Mohan as new partners. Can Ram and Mohan be admitted? Give Reason in support of your answer. (C.B.S.E. Sample Paper, 2017)
SOLUTION Ram and Mohan can’t be admitted as partners because as per Companies Act, 2013 maximum number of partners in a firm can be 50.
A group of 40 people wants to form a partnership firm. They want your advice regarding the maximum number of persons that can be there in a partnership firm and the name of the Act under whose provisions it is given. (C.B.S.E 2016, All India)
SOLUTION As per Companies Act, 2013, the maximum number of partners in a partnership firm can be 50.
Gupta and Sharma were partners in a firm. They wanted to admit two more members in the firm. list the categories of individual other than minors who cannot be admitted by them.
SOLUTION (i) Persons of unsound mind; (ii) Persons who have been declared insolvent.
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