Multiple choice

Under Section 25 of the Indian Partnership Act, 1932 the liability of the partners for the acts of the firm is:

  1. Joint and several

  2. Several

  3. Joint or several

  4. Joint
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A Correct answer
Explanation

Under Section 25 of the Indian Partnership Act, 1932, partners have joint and several liability for the firm's acts. This means creditors can sue all partners together (joint) or any one partner for the entire debt (several). This provision protects third parties dealing with the firm by ensuring they can recover from any partner.

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