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Question

Consider the following statements :
1. It is compulsory to have a Partnership Deed.
2. It is compulsory for a partnership firm to get itself registered.
3. A partner of an unregister firm can file a suit for the dissolution of the firm.
Which of the above statement/s is/are not correct ?

A
1, 2 and 3
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B
2 and 3
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C
Only 1
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D
1 and 3
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Solution

The correct option is B 2 and 3
According to the Partnership Act, 1932, it is not compulsory for a partnership firm to get itself registered. But partners prefer to get itself registered to overcome following limitations:
1. The partner of an unregistered firm can not file a suit against other partners to settle the disputes.
2. The partner of an unregistered firm can not file a suit for the dissolution of firm.
3. The partner of an unregistered firm can not file a suit against third party or an outsider for recovery of any claim.

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