Q4. Identify the section of the Indian Partnership Act, 1932, that states that the outgoing partner

Q: What is the correct answer for CUET UG Business Law Q4?

The correct answer is D. In the absence of any agreement, Section 37 of the Indian Partnership Act, 1932 is applicable, which states that the outgoing partner has an option to receive either interest @ 6% p.a. till the date of payment or such share of profits which has been earned with his/her money (i.e., based on capital ratio).

Q: Q4. Identify the section of the Indian Partnership Act, 1932, that states that the outgoing partner has an option to receive either interest @ 6% p.a till the date of payment or such share of profits…

The correct answer is D. In the absence of any agreement, Section 37 of the Indian Partnership Act, 1932 is applicable, which states that the outgoing partner has an option to receive either interest @ 6% p.a. till the date of payment or such share of profits which has been earned with his/her money (i.e., based on capital ratio).

Q: What are the options for this CUET UG Business Law question?

A. Section 2 · B. Section 32 · C. Section 7 · D. Section 37

Question

Q4. Identify the section of the Indian Partnership Act, 1932, that states that the outgoing partner has an option to receive either interest @ 6% p.a till the date of payment or such share of profits which has been earned with his/her money.

FirstInTest · Accepted Answer

In the absence of any agreement, Section 37 of the Indian Partnership Act, 1932 is applicable, which states that the outgoing partner has an option to receive either interest @ 6% p.a. till the date of payment or such share of profits which has been earned with his/her money (i.e., based on capital ratio).

Answer

Section 2

Answer

Section 32

Answer

Section 7

Answer

Section 37

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