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Business Studies

Partnership

According to ...

Question

According to section 19 of the Partnership Act, an act of the partner which is done to carry on in the usual way the business of the kind carried on by the firm is called........

A

Expressed authority

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B

Implied authority

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C

Emergency authority

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D

Fundamental rights

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Solution

The correct option is B Implied authority
Implied authority is correct answer.

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Similar questions

Q. The acts of every partner who does any act for carrying on in the usual way the business of the kind carried on by the firm bind the firm and his partners unless __________.

Q. Which of the following conditions is necessary for the exercise of implied authority?

1

. The act must relate to the business of the firm.

2

. The act must be done in the firm's business name.

3

. The act must be done in the usual way of carrying on the firm's business.
Select the correct answer from the options given.

Q. The name in which the partner of a firm carries on business is called ___________.

Q. According to Partnership Act, every partner of the firm is a/an ........ of each other.

Q. To bind the firm under implied authority, the act must be done in the ________ of carrying on the firm's business.

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