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Questions and Answers
What is the concept of 'Holding Out' based on?
What is the concept of 'Holding Out' based on?
- The principle of vicarious liability
- The principle of estoppel (correct)
- The principle of statutory interpretation
- The principle of strict liability
In simple terms, what does 'Holding Out' refer to?
In simple terms, what does 'Holding Out' refer to?
- Denying the existence of a firm
- Acting as a silent partner in a firm
- Representing or knowingly permitting others to believe in authority that one does not possess (correct)
- Exercising strict liability in business transactions
Under which sections of the Indian Partnership Act, 1932 and Limited Liability Partnership Act, 2008 is the concept of 'Holding Out' provided?
Under which sections of the Indian Partnership Act, 1932 and Limited Liability Partnership Act, 2008 is the concept of 'Holding Out' provided?
- Section 10 and section 11
- Section 28 and section 29 (correct)
- Section 5 and section 6
- Section 15 and section 16
What does estoppel prevent a person from doing?
What does estoppel prevent a person from doing?
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If a person knowingly permits others to believe that he is a partner of a particular firm, what is he estopped from doing?
If a person knowingly permits others to believe that he is a partner of a particular firm, what is he estopped from doing?
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