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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?
A, B and C are partners in a firm. C retires and X admitted as a new partner. The firm did not give a public notice on the change but continued its business in its old firm name. Z, a customer of the firm, deals with the firm after the change and the firm becomes indebted to him:
A', 'B' and 'C' are partners in a partnership firm named A, B & C. 'A' retires from the firm without giving any public notice. Thereafter, an existing creditor lends Rs. ten lakh to the firm on the basis of his knowledge that 'A', 'B' and 'C' are the three partners in the firm. This amount remains unpaid by the firm. The creditor wants to recover the unpaid loan amount from the firm.
Certain number of children were playing a game of football. There was a trial taking place on the field. In this trial the probability that a goal is scored is 2/5. The probability that a girl hits a goal is 7/10 whereas the probability that a boy hits a goal is 1/5. What will be the probability that not only a goal is hit but it is also hit by a boy?
Certain numbers of children were playing a game of football. There was a trial taking place on the field. In this trial the probability that a goal is scored is 2/5. The probability that a gril hits a goal is 7/10 whereas the probability than a boy hits a goal is 1/5. What will be the probability that not only a goal is hit but it is also hit by a boy?
Match List I with List II: List I List II (A) Market risk (I) Associated with the efficiency with which a firm conducts its operations within the broader environment imposed upon it. (B) Financial risk (II) Arises due to change in operating conditions caused by conditions thrust upon the firm which are beyond its control. (C) External business risk (III) Variations in price sparked off due to real, social, political and economic events. (D) Internal business risk (IV) Associated with the capital structure of a firm. Choose the correct answer from the options given below:
D', a partner of the business firm dies and the surviving partners carry on the business with property of the firm without final settlement of account. The firm makes profit. Widow of 'D' would be entitled to
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?