Multiple choice

Which of the following actions can be considered an action of a partner that would bind other partners?

  1. Acknowledgement of debt already obtained by the firm

  2. Opening a bank account of the firm, in his own name

  3. Giving a mandate to allow another person to operate the account

  4. To sell the immovable property relating to the firm
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Acknowledgement of debt already obtained by the firm can be considered an action of a partner that would bind other partners under Limitation Act, 1963.

Keep practicing — related questions