MCQ 30 December 2023

Daily MCQs for Judiciary Prelims Exams - (30 December 2023)



Question/ Answer
Question1:- Dissolution by consent applies when
  • (a) The firm is for fixed period
  • (b) The partnership is at will
  • (c) Both (a) or (b)
  • (d) None of the above
Answer is C is correct. As per Section 40 of the Act, dissolution by consent applies when the firm is for fixed period or is at will. Therefore option (c) is the correct answer.
Question1:- In case of dissolution by way of contract between the partners such contract may be contained in the
  • (a) Partnership deed
  • (b) Separate agreement
  • (c) No such written agreement is necessary they can make an oral agreement
  • (d) Both (a) and (b)
Answer is D is correct. In case of dissolution by way of contract between the partners such contract may be contained in the partnership deed or in separate agreement. Therefore option (d) is the correct answer.
Question3:- Compulsory dissolution is provided under which provision of Indian Partnership Act
  • (a) Section 39
  • (b) Section 40
  • (c) Section 41
  • (d) Section 42
Answer is C is correct. Section 41 provides for compulsory dissolution when adjudication of all partners or all partners but one is insolvent or by happening of an event which makes it unlawful for the business of the firm to be carried on or for the partners to carry it on in partnership. Therefore option (c) is the correct answer.
Question4:- Mark the correct statement
  • (a) If more than one separate business is carried on by the firm, the illegality of one or more shall not of itself cause the dissolution of the firm in respect of its lawful adventures and undertakings.
  • (b) If more than one separate business is carried on by the firm, the illegality of one or more shall itself cause the dissolution of the firm in respect of its lawful adventures and undertakings.
  • (c) If more than one business is carried on by the firm under the same name, the illegality of one or more shall not of itself cause the dissolution of the firm in respect of its lawful adventures and undertakings.
  • (d) None of the above
Answer is A is correct. As per Section 41 of the act, If more than one separate business is carried on by the firm, the illegality of one or more shall not of itself cause the dissolution of the firm in respect of its lawful adventures and undertakings. Therefore option (a) is the correct answer.
Question5:- Under which provision, dissolution by notice in case of partnership at will is provided
  • (a) Section 41
  • (b) Section 42
  • (c) Section 43
  • (d) Section 44
Answer is C is correct. As per Section 43 of the act, dissolution of firm by notice in case of partnership at will is provided and grounds are provided. Therefore option (c) is the correct answer.
Question6:- What are the grounds of dissolution by court
  • (a) A partner has temporarily incapable of performing his duties as a partner
  • (b) Business of the firm can be carried expect incurring losses
  • (c) Both (a) and (b)
  • (d) None of the above
Answer is D is correct. Around 7 grounds are provided under Section 44 of the act which deals with dissolution by court. Therefore option (d) is the correct answer.
Question7:- Mark the correct statement
  • (a) Partners continue to be liable to the other partners and third parties for any act done by any of them which would have been an act of the firm if done before dissolution, until public notice is given of the dissolution as per Section 46
  • (b) Partners continue to be liable to the other partners and third parties for any act done by any of them which would have been an act of the firm if done before dissolution, until public notice is given of the dissolution as per Section 45
  • (c) Partners continue to be liable to the third parties for any act done by any of them which would have been an act of the firm if done before dissolution, until public notice is given of the dissolution as per Section 46
  • (d) Partners continue to be liable to the third parties for any act done by any of them which would have been an act of the firm if done before dissolution, until public notice is given of the dissolution as per Section 45
Answer is D is correct. As per Section 45, Partners continue to be liable to the third parties for any act done by any of them which would have been an act of the firm if done before dissolution, until public notice is given of the dissolution. Therefore option (d) is the correct answer.

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