Doctrine of Holding Out Quiz

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Questions and Answers

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?

  • 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?

  • 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?

<p>Denying a statement he made or existence of facts that he makes another person believe (A)</p> Signup and view all the answers

If a person knowingly permits others to believe that he is a partner of a particular firm, what is he estopped from doing?

<p>Denying this representation later on (A)</p> Signup and view all the answers

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