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Question
A person not being a partner but represents himself to be a partner is called a __________.
A person not being a partner but represents himself to be a partner is called a __________.
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Solution
The correct option is B Partner by estoppels
Legally binding partnership that may arise where, in fact, no formal partnership agreement is in effect. A person who by conduct or words represents, or allows him/herself to be represented, as a partner in a firm is liable for the credit or loans obtained by firm on the basis of such representation.
Legally binding partnership that may arise where, in fact, no formal partnership agreement is in effect. A person who by conduct or words represents, or allows him/herself to be represented, as a partner in a firm is liable for the credit or loans obtained by firm on the basis of such representation.
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