Tag: registration of partnership firm

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Questions Related to registration of partnership firm

Multiple choice business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

An unregistered Firm cannot file a suit against a __________ to enforce any right arising from a contract.

  1. partner

  2. minor admitted to benefits of Partnership

  3. third Party

  4. outgoing Partner.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Section 69 of the Indian Partnership Act prevents an unregistered firm from filing a suit against third parties to enforce rights arising from a contract.

Multiple choice business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

Application for Registration of Firms should be signed by ____________.

  1. all the Partners or their agents.

  2. majority of the Partners or their agents.

  3. all Working Partners or their agents.

  4. all Minor Partners.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The application for registration of a firm must be signed by all the partners or their authorized agents.

Multiple choice business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

Any Statement, Intimation or Notice recorded or noted in the Register of Firms shall, as against any person be  __________ of any fact therein stated.

  1. prima facie proof

  2. collaborative proof

  3. inclusive proof

  4. conclusive proof.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Under the Indian Partnership Act, entries in the Register of Firms are considered conclusive proof of the facts stated therein.

Multiple choice business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

Application for rectification of mistake in the documents or the Register of Firms shall be made by _________.

  1. any one Partner or his agent.

  2. majority of the Partners or their agents,

  3. all Working Partners or their agents.

  4. all the Partners or their agents.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Rectification of mistakes in the Register of Firms requires the consent and signature of all partners or their agents, as it affects the official record of the firm.

Multiple choice business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

An unregistered firm is not ______________.

  1. a Legal association

  2. an Illegal association

  3. an Association of person

  4. none of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

An unregistered firm is a legal association of persons, but it lacks certain procedural rights. It is not an illegal association.

Multiple choice business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

Unregistered firm cannot file a suit against__________ to enforce any right arising from a contract.

  1. incoming partner

  2. outgoing partner

  3. minor admitted to benefits of the firm

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

An unregistered firm is barred from filing suits against third parties, including incoming partners, outgoing partners, or minors admitted to the benefits of the firm, to enforce contractual rights.

Multiple choice business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

The Register of Firms shall be open to inspection by ____________.

  1. the registrar of Firms.

  2. partners of the Firm.

  3. creditors of the Firm.

  4. any person.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The Register of Firms is a public document, and therefore, it is open to inspection by any person upon payment of the prescribed fee.

Multiple choice business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

The Registrar of Firms is appointed by __________.

  1. Central Government

  2. State Government

  3. Central and State Government

  4. Chief Justice of India.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The Registrar of Firms is appointed by the State Government under the provisions of the Indian Partnership Act.

Multiple choice business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

If a firm wants to register itself, if will go to ___________.

  1. registrar of firms

  2. registrar of companies

  3. court

  4. any of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A firm seeking registration must submit its application to the Registrar of Firms for the area where the business is located.

Multiple choice business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

Non-registration of the Firm does not affect the right of the Firm to institute a suit or claim of set-off not exceeding ________.

  1. Rs. 100

  2. Rs. 1,000

  3. Rs. 10,000

  4. Rs. 50,000.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The law provides an exception for small claims; an unregistered firm can still institute a suit or claim of set-off if the value does not exceed Rs. 100.