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Types of Partners

Steps involved in Establishing Business
Elements of Business
Class 9

Overview

State the types of partner; Explain secret partner; Explain Nominal Partner; Explain partner by Estoppel; Explain by holding out; Discuss an minor as a partner; Explain active partner; Explain sleeping or dormant partner.

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Types of Partners

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Related Questions to study

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

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How you will classify partner who do not invest or participate in the management of the firm but only give their name to the business or firm?

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Which type of partners is not personally liable?

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Identify which of the following statement is true and which is false?
(i) As relations of partners inter se are that of agency, no consideration is required to create the partnership,
(ii) Partnership and Joint Hindu Family both are created by status.
(iii) There is no restriction as to maximum number of members for HUF.
(iv) Registration is also required for HUF.
Select the correct answer from the options given.

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A change in the nature of the business can only be brought about by the consent of __________.

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For loss caused to the firm by his fraud in the conduct of the business, every partner shall __________.

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Which of the following statement is incorrect?

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If the behavior of a person shows that he is a partner in a firm (when actually he is not), such a person is known as _________.

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Retiring Partner may be discharged from liability to any third party for acts of Firm done before his retirement by ________.

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Which of the following is not a form of organisation?

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