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Business Studies

Features and Types of Co-Operative Societies

Who has the p...

Question

Who has the power to transfer the joint property of HUF so as to bind the interest of both adult and minor coparceners?

A

Son's of the HUF

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B

Daughters of the HUF

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C

All the co-parceners of HUF

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D

Karta of HUF

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Solution

The correct option is D Karta of HUF
The joint Hindu Family Business is normally managed by the senior member of the family and he is known as Karta. All the necessary powers, rights and responsibility to carry on the business is in the hands of the Karta.

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Similar questions

Q. Who has the power to transfer the joint porperty of HUF so as to bind the interest of both adult and minor coparceners?

Q. Identify which statement is true and which is false?
1. Any person can become member of HUF.
2. In a HUF business, in the event of death of any of the co-parcener, his wife can claim share of profit.
3. In a HUF business, the liability of the karta is Unlimited.
Select the correct answer from the options given below.

Q. A partner can transfer his interest so as to substitute the transferee in his place as the partner, without the consent of all the other partners; a member of company cannot transfer his share to any one he likes.

Q. The members of an HUF are also known as _______.

Q. Head of HUF is known as ______.

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