1. The term “Partnership” is defined in Section ------- of the Indian partnership act, 1932.
a) 2
b) 3
c) 4
d) 5
2. Persons who have entered into partnership with one another are collectively called as --------
a) Partners
b) Directors
c) Firms
d) None of the above
3.Partnership is a subject in the ----------------
a) Union List
b) state list
c) Concurrent List
d) None of the above
4. An action for the indemnity can be brought against a partner
a) By the firm
b) By any partner on behalf of the firm
c) By a partner in his individual capacity
d) Either (A) or (B)
5. A property of a partner becomes the property of the firm
a) When it is used for the business of the partnership
b) When the property is owned by the partners
c) When there is an agreement express or implied that the property is to be treated as that of the firm
d) None of the above
6.The property of the firm includes ----
a) All property and rights and interest in property originally brought into the stock of the firm
b)All property and rights and interest in property acquired, by purchase or otherwise, by or for the firm for the purposes and in the course of the business of the firm, and includes also the goodwill of the business
c) Both (A) and (B)
d) None of the above
7. Which of the following courts has the jurisdiction for trying an offence punishable under section138 of the Negotiable Instruments Act, 1881?
a) Judicial Magistrate of Second Class
b) Judicial Magistrate of First Class
c) Chief Judicial Magistrate
d) None of the above
8.A post dated cheque is only a --------------- when it is written or drawn, it becomes a cheque when it is payable on demand
a) Promissory Note
b) Bill of Exchange
c) Draft
d) None of the above
9. The offence u/s 138 of the Negotiable Instruments Act is ----
a) Cognizable and bailable
b) Non-cognizable and non-bailable
c) Cognizable and non-bailable
d) Non- cognizable and bailable
10. A promissory note is made by ---------
a) Creditor
b) Debtor
c) Holder
d) Drawee