partnership deed

What is the name of the Partnership firm formed in the deed?

• ABC Paints

• XYZ Varnishes

• PQR Colors

• MNO Paints

Which Act is mentioned under which the company is registered?

• Indian Partnership Act

• Indian Arbitration Act

• Partnership Act 1932

• Companies Act 1956

What is the amount that the Party of the Third Part is required to bring towards the capital of the firm?

• Rs. 20000

• Rs. 15000

• Rs. 5000

• Rs. 10000

What is the monthly salary that partners will be paid for the services rendered to the firm?

• Rs. 3500

• Rs. 3000

• Rs. 2500

• Rs. 2000

How many months notice is required for a partner to retire from the Partnership firm?

• 4 months

• 2 months

• 1 month

• 3 months

What action is forbidden for partners without the consent of others?

• All of the above

• Raise loans in the name of the firm

• Lend money to anyone

• Assign shares in assets

What happens in the event of death or retirement of any of the parties hereto?

• Partnership dissolves

• Partnership continues

• Partnership renews

• Partnership expands

Who will step into the shoes of the deceased partner?

• Legal heir

• Banker

• Government

• Customer

What is the rate of bonus entitled to partners on their salary?

• 10%

• 15%

• 12%

• 8%

What is the provision for disputes or differences arising out of the Partnership?

• Court trial

• Arbitration

• Mediation

• Negotiation