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Which of the following is not an agreement in restraint of trade?
1. A sells the goodwill of his business with an agreement not to carry on a similar business within specified local limits, so long as the buyer carries on a similar business.
2. A sells the goodwill of his business with an agreement not to carry on a similar business within India, so long as the buyer carries on a similar business.
3. A sells the goodwill of his business with an agreement not to practice the same trade for 25 years.
4. A sells the goodwill of his business with an agreement not to engage in any business competing or liable to compete in any way with the business for the time being carried on by the buyer.
The Propositions are:
(1) Where a partner of a professional business partnership borrows money in the usual and regular course of business stating that the money is to be used for partnership business but misappropriates it, the other partners shall be liable.
(2) Where money has been borrowed by a partner without authority, but has been applied to the legitimate business needs of the firm, the firm is liable.
(3) Where the act is within the scope of the implied authority of a partner, but it has been done by him, to the knowledge of the third party, not for the firm but for his own purposes, the firm is liable.
Which of the following is true in accordance with Indian Partnership Act, 1932 as to the aforesaid propositions?
Under the Indian Partnership Act, 1932, where no provision is made by contract between the partners for the duration of their partnership or for the determination of their partnership, the partnership is called.
A suit of a partnership firm to enforce any type of rights of the partnership firm is not maintainable unless the partnership firm is registered under Section 69 of the Partnership Act before the filing of the suit.
If 10 employees in an organization having an average weight of 73 kg leave and 5 employees having an average weight of 70 kg join, the average weight of the employees in the organization decreases by 0.4 kg. The average weight of all employees in the organization initially is 70 kg. If the number of employees initially in the organization is n, which of the following is/are correct? I. 73 employees are left II. n is a multiple of 16 III. 70 < n < 80
An organization requires a range of IP addresses to assign one to each of its 1500 computers. The organization has approached on Internet Service Provider (ISP) for this task. The ISP uses CIDR and serves the requests from the available IP address space 202.61.0.0/17. The ISP wants to assign an address space to the organization which will minimize the number of routing entries in the ISP’s router using route aggregation. Which of the following address spaces are potential candidates from which the ISP can allot any one to the organization? I. 202.61.84.0/21 II. 202.61.104.0/21 III. 202.61.64.0/21 IV. 202.61.144.0/21
There are five person P1, P2, P3, P4 and P5. Each person has a different occupation out of D1, D2, D3, D4 and D5 (not necessarily in the same order). Each person uses a different transport out of T1, T2, T3, T4 and T5 (not necessarily in the same order). The person whose business is D3 does not use T1 or T4. P2's business is D1. P4 uses T2. P3's business is not D4 or D5. P5 does not uses, T3 or T5. Persons having business D4 and D2 use T5 and T3 transport respectively. Which of the following combination of Person - Business - Traffic is definitely correct?
A started a business investing Rs. 3000. After 3 months, B joined the business investing Rs. 2000. After some more time, C joined the business investing Rs. 1500. At the end of the year, profit from the business was Rs. 16000 and share of C was Rs.1600 out of the profit. For how many months C invested in the business?
In a business, B invests half the amount invested by A. After 6 months from the start of the business, C joins the business with an amount equal to twice of B's investment. After 8 months from the start of the business B withdraws completely from the business. If at the end of the year, C's share in the profit was Rs. 2460, what was the total profit received that year ?
Is the statement of law correct: "Implied authority of a partner in a partnership firm exists to selling of all properties of the partnership firm for the purpose of carrying on the business of the partnership firm"?