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An irregularly expelled partner has :
  • a)
    Right to reinstatement
  • b)
    Right to get back his share of profit and property in the firm
  • c)
    Both
  • d)
    None
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
An irregularly expelled partner has :a)Right to reinstatementb)Right t...
Explanation:

When a partner is irregularly expelled from a partnership firm, they do have certain rights. The correct answer is option 'C', which means both (a) right to reinstatement and (b) right to get back their share of profit and property in the firm.

Right to Reinstatement:
When a partner is irregularly expelled from a partnership firm, it means that the expulsion was not done in accordance with the terms and conditions of the partnership agreement or the provisions of the Partnership Act. In such a case, the expelled partner has the right to be reinstated back into the firm.

Right to Get Back Share of Profit and Property:
An irregularly expelled partner also has the right to get back their share of profit and property in the firm. This means that they are entitled to receive their rightful share of profits and assets that they would have received if they had not been expelled. The expelled partner's share of profit and property should be calculated based on their proportionate ownership in the firm.

Importance of these Rights:
These rights are important to ensure fairness and justice in the partnership firm. Irregular expulsion can cause financial and reputational damage to the expelled partner, and these rights aim to provide them with a remedy for the injustice they have faced. By reinstating the partner and granting them their rightful share, the firm can restore balance and uphold the principles of partnership law.

Conclusion:
When a partner is irregularly expelled from a partnership firm, they are not left without any recourse. They have the right to be reinstated back into the firm and to receive their share of profit and property. These rights are crucial in maintaining fairness and justice within the partnership and ensuring that all partners are treated equitably.
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An irregularly expelled partner has :a)Right to reinstatementb)Right to get back his share of profit and property in the firmc)Bothd)NoneCorrect answer is option 'C'. Can you explain this answer?
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An irregularly expelled partner has :a)Right to reinstatementb)Right to get back his share of profit and property in the firmc)Bothd)NoneCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about An irregularly expelled partner has :a)Right to reinstatementb)Right to get back his share of profit and property in the firmc)Bothd)NoneCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An irregularly expelled partner has :a)Right to reinstatementb)Right to get back his share of profit and property in the firmc)Bothd)NoneCorrect answer is option 'C'. Can you explain this answer?.
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