UPHJS2009
Pre. Exam

4. An act, to be called on ‘act of firm’, within the meaning of section 2(a) of the Indian Partnership Act, 1932 is-
(A) every act of the partners
(B) only such acts which give rise to a enforceable by or against the firm
(C) such acts which do not give rise to a right enforceable by or against the firm
(D) either (A) or (B) or (C)

Answer and Notes Answer is B

UPHJS2018-1
Pre. Exam

61. A Corporation can enter into a contract of partnership and become a partner of a firm . The statement is :
(a) True
(b) False
(c) Partly true
(d) None of the above

Answer and Notes Answer is A

Explanation : A corporation is a juristic person and therefore, can become a partner in a partnership firm. The word "persons" used in section 4 of Partnership Act, 1932 also covers juristic persons. If a corporation enters in a partneship it will act through its directors or other authorized persons.

UPHJS2016
Pre. Exam

52. Which of the following is a strong evidence (or test) of the partnership.
(a) Sharing of losses.
(b) Sharing of profits.
(c) Both (a) and (b)
(d) None of the above

Answer and Notes Answer is B


Sandeep : According to section 4 of the Indian Partnership Act, 1932 partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all.