MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Partnership Deed

Give the word...

Question

Give the word / term or phrase which can substitute each of the following statement.

A partner who acts and behaves like a partner, but he is not a partner of the firm.

Open in App

Solution

Partner by Estoppel or Holding out
Explanation: A partner who is actually not a partner of the firm but represents to the outside world that he is a partner in the firm is regarded as a partner by estoppel or holding out. Also, such persons are liable to outsiders as partners because on the faith of their representation, outsiders have granted credit to the firm.

Suggest Corrections

thumbs-up

0

Similar questions

Q. Give the word / term or phrase which can substitute each of the following statement.

A partner who provides only his name to the partnership firm.

Q. Give a word / term / phrase which can substitute each of the following statements :

The partner who died.

Q. Write a word or a phrase or a term which can substitute each one of the following.

A partner who gave his name to partnership firm.

Q. Give the word / term or phrase which can substitute each of the following statement.

A partner who contributes only capital for the business but does not take any active part.

Q. Write only a word or a phrase or a team which can substitute the following statement.
A partner who gives only his name to the partnership firm.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Analysing Capital Accounts

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Partnership Deed

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon