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Where the partnership business is carried on by the other partners after the outgoing of a partner, without a final settlement of accounts, under section 37 of the Act, the outgoing partner is entitled to a share of profits

Where the partnership business is carried on by the other partners after the outgoing of a partner, without a final settlement of accounts, under section 37 of the Act, the outgoing partner is entitled to a share of profits Correct Answer Proportionate to the share of assets

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The outgoing partner, where the partnership business is continued by other partners without a final settlement of accounts, under section 37 of the Act, the outgoing partner is entitled to interest on the unpaid capital, at the rate of
Under section 37(2) of the Indian Partnership Act, 1932, on exercise of option to purchase the share of the outgoing partner under an agreement between the partners resulting in the right of the outgoing partner to receive the share of profits or interest on the unpaid capital to cease, such right of the outgoing partner
Where on the outgoing of a partner, other partners continue in business without a final settlement of accounts, under the scheme of section 37 of the Indian Partemership Act, 1932 the outgoing partner is entitled to
Which of the following are correct regarding rights of partners?
1. A partner has the right to allow the admission of a new partner.
2. Every partner has a right to take part in the management of business.
3. Every partner has a joint ownership of partnership property.
4. Every partner has a right to share the profit not the losses with other partners.
5. Every partner has a right to inspect the books of account and have a copy of the same.
6. In case of emergency, a partner has a right to act as a man of prudence.
Select the correct answer:
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?
Where under a contract between the partners, the remaining partners have opted to purchase the share of the outgoing partner, the outgoing partner, under section 37(2) of the Act has
When any partner retires and the remaining partners carry on the business with the firm's property without any final settlements of accounts the outgoing partner is entitled to:
The assets of the Partnership firm, including any sums contributed by the partners to makeup deficiencies of capital at the time of dissolution, shall be applied in the following manner and order: (A) In paying each partner rateably what is due to him for advances as distinguished from capital. (B) In paying to each partner rateably what is due to him on account of capital. (C) In paying the debts of the firm to third parties (D) Dividing among the partners in the proportion in which they were entitled to share profits. Choose the correct answer from the options given below:
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.
X and Y are partners and sharing profits-losses in the ratio of 4 : 3. They admit Z in partnership giving $${\frac{1}{3}^{{\text{rd}}}}$$ share in profits/losses. If Z receives his share from X and Y in equal proportion, the share of Y in profits/loses in future will be