According to Indian Partnership Act, 1932 What entitlement does an outgoing partner or their estate have if the surviving partners continue the business without a final settlement of accounts?
Section 37 of Indian Partnership Act, 1932 Where any member of a firm has died or otherwise ceased to be a partner, and the surviving or continuing partners carry on the business of the firm with the property of the firm without any final settlement of accounts as between them and the outgoing partner or his estate, then, in the absence of a contract to the contrary, the outgoing partner or his estate is entitled at the option of himself or his representatives to such share of the profits made since he ceased to be a partner as may be attributable to the use of his share of the property of the firm or to interest at the rate of six per cent. per annum on the amount of his share in the property of the firm: Provided that whereby contract between the partners an option is given to surviving or continuing partners to purchase the interest of a deceased or outgoing partner, and that option is duly exercised, the estate of the deceased partner, or the outgoing partner or his estate, as the case may be, is not entitled to any further or other share of profits; but if any partner assuming to act in exercise of the option does not in all material respects comply with the terms thereof, he is liable to account under the foregoing provisions of this section.
Which of the following sequence represents the correct dictionary order of the following words?
1. Poor
2. Passage
3. Pointer
4. Past
5. Passenger
Which of the following word will appear second in the English Dictionary?
1. Repeal
2. Report
3. Republic
4. Remote
5. Repair
Arrange the given words in the sequence in which they occur in the dictionary.
A) Depth
B) Dessert
C) Design
D) Desire
E) Deep
Select the correct option that indicates the arrangement of the given words in the order in which they appear in an English dictionary.
1. Desire...
Arrange the given words as in a dictionary and tick the one that come last.
a) Repeat
b) Repellent
c) Reveal
d) Regret
e) Resign
Select the correct option that indicates the arrangement of the given words in the order in which they appear in an English dictionary.
1- Orphan...
Select the correct option that indicates the arrangement of the given words in the order in which they appear in an English dictionary.
1. Scot...
Among the given words, select the one that will come third if they are arranged as per their order in an English dictionary.
Geography, General, ...