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Monopoly Impacts and Government Interventions

Where the out...

Question

Where the outgoing partner carries on a competing business, which of the following is permissible?

A

Use of firm's name

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B

Holding out as carrying on the business of the firm

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C

Soliciting the custom of the firm's customers/suppliers etc

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D

Advertising such competing business

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Solution

The correct option is D Advertising such competing business
If an outgoing partner carries on a competing business from their prior business, then they have the full authority to advertise such business.

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Q. Assertion :When a partner is expelled otherwise than in good faith, it is null and void and he continues to be a partner. Reason: The outgoing partner cannot carry on a competing business or advertise such business.

Q. X and Y are partners. They decided to dissolve their firm. After dissolution they sold the goodwill of firm to W. State the legal position of the following acts:
Case (a): Can X or Y carry on a business competing with that of W?
Case (b): Can X or Y advertise: such business?
Case (C): Can X or Y .use the firm name if there. is no agreement l between .them and LIP?
Case (d): an X or Y represent himself as carrying on firms business it there is no agreement between them and W?
Case (e) Can X or Y solicit the business from the customers of dissolved firm if there is no agreement between them and Vi?
Case (f): Can X or Y make an agreement with W that either of them will not carry on any business similar to that of a firm within a specified period or within specified limits?

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

Q. The maximum number of partners in a firm which carries out banking business is ______________.

Q. The maximum number of partners for a firm carrying on banking business is _________.

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