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The concept of ‘Holding Out’ is merely an application of the principle of estoppel, which in itself is a rule of evidence wherein a person is prevented or estopped from denying a statement he made or existence of facts that he makes another person believe. Holding out refers to a course of action or omission which leads others to believe that the person possesses an authority which in fact he doesn’t. In simple terms, if a person represents or knowingly permits others that he is a partner of a particular firm, and some other person carried on some transaction believing him to be a partner of the firm, then he is estopped from denying this representation later on. The concept of holding out has been provided under section 28 of the Indian Partnership Act, 1932 and section 29 of Limited Liability Partnership Act, 2008. These sections state that a person is held liable as a partner by holding out if the given conditions are fulfilled.
Despite a decrease in agriculture exports, which position did India retain in global agriculture exports in 2023 according to the WTO?
BHIM (Bharat Interface for Money) is an Indian mobile payment app developed by the_______________________, based on the Unified Payments Interface (UPI).
Dubai opened the 'Infinity Bridge' for traffic for the first time. Why the bridge is named 'Infinity Bridge'?
What is the purpose of observing Swachhata Pakhwada in the Ministry of Railways?
The PM PRANAM scheme is associated with which sector?
Who was the Chairman of Hinduja Group and recently passed away in London?
Who is the first Indian swordsman to win a medal in the Asian Championships?
What is the underlying reason for SEBI's permission to allow stock brokers and clearing members to park client funds in mutual fund overnight schemes?
Which country won the Men’s Hockey World Cup 2023 title?
Which of the following statements is TRUE regarding the RBI's Prompt Corrective Action (PCA) framework for Urban Cooperative Banks (UCBs) effective from...