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Business Studies

Types of Partners , Partnership and Companies

The person wh...

Question

The person who accepts that he is a partner in a partnership firm by his own words or conduct is known as.

A

estoppel partner

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B

secret partner

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C

nominal partner

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D

active partner

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Solution

The correct option is A estoppel partner
The person who accepts that he is a partner in a partnership firm by his own words or conduct is known as estoppel partner.

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Q. A person, who, by words spoken or written or conduct represents himself or knowingly permits himself to be represented as a partner in the firm is called _______________.

Q. A partner who has not entered into a partnership agreement and conducts or represents himself as a partner in a firm is called _____________.

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. 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.

Q. The law relating to partners by holding out is contained in Section

28

, which lays down thus: "Anyone who by words, ________ represents himself, or knowingly permits himself to be represented to be a partner in a firm, is liable as a partner in that firm to anyone who has on the faith of any such representation given credit to the firm, whether the person representing himself or represented to be a partner does or does not know that the representation has reached the person so giving credit".

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