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Can you explain the answer of this question below:
Prior to enactment of The Indian Partnership Act, 1932, the law relating to partnership in India were embodied in
- A:Companies Act
- B:Chapter XI of The Indian Contract Act
- C:Hindu Law
- D:Chapter X of The Indian Contract Act
The answer is b.
Verified Answer
Can you explain the answer of this question below:Prior to enactment o...
The Indian Partnership Act was enacted in 1932 and it came into force on 1st day of October, 1932. The present Act superseded the earlier law relating to Partnership, which was contained in Chapter XI of the Indian Contract Act,1872. The Act is not exhaustive. It purports to define and amend the law relating to Partnership.
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Can you explain the answer of this question below:Prior to enactment o...
The Indian Partnership Act, 1932, governs the law relating to partnership in India. However, prior to the enactment of this act, the law relating to partnership in India was embodied in Chapter XI of The Indian Contract Act, 1872.
Explanation:
Chapter XI of The Indian Contract Act, 1872, dealt with the law relating to partnership in India. It defined partnership, partners, and their rights and duties. It also laid down the rules for the formation, dissolution, and operation of a partnership.
The Indian Partnership Act, 1932, was enacted to provide a comprehensive and uniform set of rules for the regulation of partnerships in India. It repealed the provisions of Chapter XI of The Indian Contract Act, 1872, and provided a more detailed and elaborate framework for partnership law in India.
The Indian Partnership Act, 1932, defines partnership as "the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all." It lays down the rules for the formation, registration, and dissolution of a partnership. It also defines the rights and duties of partners, and provides for the management and operation of a partnership.
Conclusion:
In conclusion, prior to the enactment of The Indian Partnership Act, 1932, the law relating to partnership in India was embodied in Chapter XI of The Indian Contract Act, 1872. However, with the enactment of the new act, a more comprehensive and uniform set of rules was provided for the regulation of partnerships in India.
Explanation:
Chapter XI of The Indian Contract Act, 1872, dealt with the law relating to partnership in India. It defined partnership, partners, and their rights and duties. It also laid down the rules for the formation, dissolution, and operation of a partnership.
The Indian Partnership Act, 1932, was enacted to provide a comprehensive and uniform set of rules for the regulation of partnerships in India. It repealed the provisions of Chapter XI of The Indian Contract Act, 1872, and provided a more detailed and elaborate framework for partnership law in India.
The Indian Partnership Act, 1932, defines partnership as "the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all." It lays down the rules for the formation, registration, and dissolution of a partnership. It also defines the rights and duties of partners, and provides for the management and operation of a partnership.
Conclusion:
In conclusion, prior to the enactment of The Indian Partnership Act, 1932, the law relating to partnership in India was embodied in Chapter XI of The Indian Contract Act, 1872. However, with the enactment of the new act, a more comprehensive and uniform set of rules was provided for the regulation of partnerships in India.
Community Answer
Can you explain the answer of this question below:Prior to enactment o...
And is b
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Can you explain the answer of this question below:Prior to enactment of The Indian Partnership Act, 1932, the law relating to partnership in India were embodied inA:Companies ActB:Chapter XI of The Indian Contract ActC:Hindu LawD:Chapter X of The Indian Contract ActThe answer is b.
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Can you explain the answer of this question below:Prior to enactment of The Indian Partnership Act, 1932, the law relating to partnership in India were embodied inA:Companies ActB:Chapter XI of The Indian Contract ActC:Hindu LawD:Chapter X of The Indian Contract ActThe answer is b. for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Can you explain the answer of this question below:Prior to enactment of The Indian Partnership Act, 1932, the law relating to partnership in India were embodied inA:Companies ActB:Chapter XI of The Indian Contract ActC:Hindu LawD:Chapter X of The Indian Contract ActThe answer is b. covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Can you explain the answer of this question below:Prior to enactment of The Indian Partnership Act, 1932, the law relating to partnership in India were embodied inA:Companies ActB:Chapter XI of The Indian Contract ActC:Hindu LawD:Chapter X of The Indian Contract ActThe answer is b..
Can you explain the answer of this question below:Prior to enactment of The Indian Partnership Act, 1932, the law relating to partnership in India were embodied inA:Companies ActB:Chapter XI of The Indian Contract ActC:Hindu LawD:Chapter X of The Indian Contract ActThe answer is b. for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Can you explain the answer of this question below:Prior to enactment of The Indian Partnership Act, 1932, the law relating to partnership in India were embodied inA:Companies ActB:Chapter XI of The Indian Contract ActC:Hindu LawD:Chapter X of The Indian Contract ActThe answer is b. covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Can you explain the answer of this question below:Prior to enactment of The Indian Partnership Act, 1932, the law relating to partnership in India were embodied inA:Companies ActB:Chapter XI of The Indian Contract ActC:Hindu LawD:Chapter X of The Indian Contract ActThe answer is b..
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