According to Indian Partnership Act, 1932 What is the liability of a retiring partner for acts done by the firm before retirement after an agreement is made by him with third party and the partners of the reconstituted firm
Section 32 of Indian Partnership Act, 1932 A partner may retire— (a) with the consent of all the other partners, (b) in accordance with an express agreement by the partners, or (c) where the partnership is at will, by giving notice in writing to all the other partners of his intention to retire. (2) A retiring partner may be discharged from any liability to any third party for acts of the firm done before his retirement by an agreement made by him with such third party and the partners of the reconstituted firm, and such agreement may be implied by a course of dealing between such third party and the reconstituted firm after he had knowledge of the retirement. (3) Notwithstanding the retirement of a partner from a firm, he and the partners continue to be liable as partners to third parties for any act done by any of them which would have been an act of the firm if done before the retirement, until public notice is given of the retirement: Provided that a retired partner is not liable to any third party who deals with the firm without knowing that he was a partner. (4) Notices under sub-section (3) may be given by the retired partner or by any partner of the reconstituted firm.
A new British Indian Army Memorial, commemorating the sacrifice of millions of Indian soldiers who fought alongside the British during the two World War...
Which of the following statement/s is/are correct about “Trade Union”?
I.A trade union is an organization composed of members (a membership-b...
During a thunderstorm, the thunder in the skies is produced by the
1. Meeting of cumulonimbus clouds in the sky
2. Lightning that separate...
Which of the following are the unitary features of the Indian Constitution?
1. Integrated judiciary
2. Single citizenship
3. Su...
Find out the quantity of four-digit numbers that can be created by utilizing the digits from 1 to 9 if repetition of digits is not allowed?
The number of boys and girls in a school is 150 and 280 respectively. 30% of boys left the school while 20 girls took admission in the school. Find the ...
In a class of 225 students, 125 are girls and remaining are boys. Among boys, the ratio of number of boys who are wearing caps to those who are not wear...
_____ in accounting refers to the quality of financial information that can be easily comprehended by its intended users?
Consider the following statements with respect to the Union Council of Ministers
1. Every Minister is entitled to vote and speak in proceeding...
A man deposited Rs. 13000 at 10% compound interest, compounded annually while Rs. 11500 at 13% simple interest per annum. What will be the difference be...