As per Section 14 of the Indian Partnership Act, 1932, subject to contract between the partners, the property of a firm does not include:

Under Section 42 of the Indian Partnership Act, 1932, a firm may be dissolved on the happening of certain contingencies, subject to a contract between the partners. Which of the following is NOT such a contingency under Section 42?

Does a notice given to a partner, who habitually acts in the business of the firm, regarding any matter relating to the affairs of the firm, operate as notice to the firm?

B and M carried on business as cinematographic theatre proprietors. B was a sleeping partner and M managed it. The partnership deed prohibited contracting debts without mutual consent except in the regular course of business. M borrowed money from C stating it was for the firm, but misappropriated it. In C's suit against B, what is the liability?

The authority of a partner to bind the firm by acts done in the usual course of business is called 'implied authority'. Under Section 19, such authority does not empower a partner to:

According to Section 31 of the Indian Partnership Act, 1932, a new partner can be introduced into a firm: