A partner cannot contract himself out of which of the following duties? (1) Duty of utmost good faith, i.e. uberrimae fidei. (2) Duty of carry on business to greatest common advantage. (3) Duty to render true accounts and full information. (4) Duty to indemnify for fraud. (5) Duty to indemnify for willful neglect. (6) Duty to properly use the firm's property.

Consider the following statements with regard to "uberrimae feidei" and find out which of them is correct.
1. It falls within a class of cases which require utmost good faith
2. Every contract is a contract uberrimae feidei
3. A contract of insurance is an example of uberrimae feidei

A

1, 2 and 3

B

1 and 3 only

C

2 and 3 only

D

1 and 2 only

With regard to uberrimae feidei, which of the following statements is/are correct?
1. It falls within a class of cases which require absolute good faith.
2. Every contract is a contract 'uberrimae feidei'
3. A contract of insurance of an example of 'uberrimaefeidei'
Select the correct answer using the given below.

A

1 and 3 only

B

1 and 2 only

C

3 only

D

1, 2 and 3

Which of the following is not an agreement in restraint of trade?
1. A sells the goodwill of his business with an agreement not to carry on a similar business within specified local limits, so long as the buyer carries on a similar business.
2. A sells the goodwill of his business with an agreement not to carry on a similar business within India, so long as the buyer carries on a similar business.
3. A sells the goodwill of his business with an agreement not to practice the same trade for 25 years.
4. A sells the goodwill of his business with an agreement not to engage in any business competing or liable to compete in any way with the business for the time being carried on by the buyer.

A

1, 3 and 4

B

2, 3 and 4

C

3 and 4

D

1 and 3

Which of the following is the duty of a partner?
1. Duty of absolute good faith
2. Duty to render the true account
3. Duty not to compete
4. Proper use of property

A

1, 2 and 4

B

2, 3 and 4

C

1 and 3

D

All of the above

Which of the following are correct regarding rights of partners?
1. A partner has the right to allow the admission of a new partner.
2. Every partner has a right to take part in the management of business.
3. Every partner has a joint ownership of partnership property.
4. Every partner has a right to share the profit not the losses with other partners.
5. Every partner has a right to inspect the books of account and have a copy of the same.
6. In case of emergency, a partner has a right to act as a man of prudence.
Select the correct answer:

A

1, 2, 3, 4

B

2, 3, 4, 6

C

3, 4, 5, 6

D

2, 3, 5, 6

Read the passage carefully and select the best answer to each question out of the given four alternatives.
Public opinion may be passive and false or active and real. It is claimed in theory that all governments are ultimately based on the opinion or sanction of the governed. But we find that in practice the people's rights are often trodden down and tyranny and oppression are allowed to continue. The government does it not because the people want it to do so but because they are too idle, too uneducated and too disunited or timid to oppose the govern ment. Such public opinion is passive and false and not an active verdict. But when we find people alert, intelligent and determined to let the government know their will, when they want to exercise actively their voice in the management of their country, we have an instance of true or active public opinion. True public opinion is formed by and expressed through the press, the platform, political parties and educational institutions. These have sacred duties to perform, duties on which depends the ultimate good of the entire community. The press today wields a tremendous influence, So it should support the causes and move ments and condemn the wrong one's and thus teach people to form correct opinion. A free and fair press ventilates the grievances of the public. Thus a healthy relationship develops between the people and the government through out an unbiased press. Political parties also help to create and regulate opinions. No less important part is played by the educational Institutions which train the minds of the young people who will be the citizens of tomorrow. It has been said that modern Germany and China have been made by their universities. It is necessary that the young and the growing minds should imbibe the spirit of fellow-feeling, the spirit of tolerance, the habit of compromise, and show due regard for the feelings and opinion of others without which a democratic society cannot function, let alone succeed. When there is true awakening of the people, we shall have the real and conscious public opinion. And justice will reign on earth and truly will the voice of the people be the voice of God.
What is important for the democratic society to function properly?

A

Spirit of fellow-feeling

B

Spirit of tolerance

C

Habit of compromise

D

All of these

The Propositions are:
(1) Where a partner of a professional business partnership borrows money in the usual and regular course of business stating that the money is to be used for partnership business but misappropriates it, the other partners shall be liable.
(2) Where money has been borrowed by a partner without authority, but has been applied to the legitimate business needs of the firm, the firm is liable.
(3) Where the act is within the scope of the implied authority of a partner, but it has been done by him, to the knowledge of the third party, not for the firm but for his own purposes, the firm is liable.
Which of the following is true in accordance with Indian Partnership Act, 1932 as to the aforesaid propositions?

A

(1) is correct, (2) and (3) are incorrect

B

(1) and (2) are correct, (3) is incorrect

C

(1), (2) and (3), all are correct

D

(2) and (3) are correct, (1) is incorrect

E

None of these

Which of the following statements are true?
(1) Minor's contract can be ratified on attaining majority.
(2) Minor's contract cannot be ratified on attaining majority.
(3) Minor's contract can be ratified jointly by both the parties to the contract.
(4) Minor is not liable under minor's contract.
(5) Minor's contract is an enforceable contract.

A

1 and 3

B

5 and 2

C

2 and 4

D

2 and 3

E

3 and 4

Read the passage carefully and select the best answer to each question out of the given four alternatives.
Public opinion may be passive and false or active and real. It is claimed in theory that all governments are ultimately based on the opinion or sanction of the governed. But we find that in practice the people's rights are often trodden down and tyranny and oppression are allowed to continue. The government does it not because the people want it to do so but because they are too idle, too uneducated and too disunited or timid to oppose the govern ment. Such public opinion is passive and false and not an active verdict. But when we find people alert, intelligent and determined to let the government know their will, when they want to exercise actively their voice in the management of their country, we have an instance of true or active public opinion. True public opinion is formed by and expressed through the press, the platform, political parties and educational institutions. These have sacred duties to perform, duties on which depends the ultimate good of the entire community. The press today wields a tremendous influence, So it should support the causes and move ments and condemn the wrong one's and thus teach people to form correct opinion. A free and fair press ventilates the grievances of the public. Thus a healthy relationship develops between the people and the government through out an unbiased press. Political parties also help to create and regulate opinions. No less important part is played by the educational Institutions which train the minds of the young people who will be the citizens of tomorrow. It has been said that modern Germany and China have been made by their universities. It is necessary that the young and the growing minds should imbibe the spirit of fellow-feeling, the spirit of tolerance, the habit of compromise, and show due regard for the feelings and opinion of others without which a democratic society cannot function, let alone succeed. When there is true awakening of the people, we shall have the real and conscious public opinion. And justice will reign on earth and truly will the voice of the people be the voice of God.
According to the passage, which of the following is needed from the people to have true or active public opinion? 1. Alertness
2. Determination
3. Intelligence
4. Raising their voice

A

1, 2 and 3

B

Only 4

C

2 and 3

D

All of these

Read the passage carefully and select the best answer to each question out of the given four alternatives.
Public opinion may be passive and false or active and real. It is claimed in theory that all governments are ultimately based on the opinion or sanction of the governed. But we find that in practice the people's rights are often trodden down and tyranny and oppression are allowed to continue. The government does it not because the people want it to do so but because they are too idle, too uneducated and too disunited or timid to oppose the govern ment. Such public opinion is passive and false and not an active verdict. But when we find people alert, intelligent and determined to let the government know their will, when they want to exercise actively their voice in the management of their country, we have an instance of true or active public opinion. True public opinion is formed by and expressed through the press, the platform, political parties and educational institutions. These have sacred duties to perform, duties on which depends the ultimate good of the entire community. The press today wields a tremendous influence, So it should support the causes and move ments and condemn the wrong one's and thus teach people to form correct opinion. A free and fair press ventilates the grievances of the public. Thus a healthy relationship develops between the people and the government through out an unbiased press. Political parties also help to create and regulate opinions. No less important part is played by the educational Institutions which train the minds of the young people who will be the citizens of tomorrow. It has been said that modern Germany and China have been made by their universities. It is necessary that the young and the growing minds should imbibe the spirit of fellow-feeling, the spirit of tolerance, the habit of compromise, and show due regard for the feelings and opinion of others without which a democratic society cannot function, let alone succeed. When there is true awakening of the people, we shall have the real and conscious public opinion. And justice will reign on earth and truly will the voice of the people be the voice of God.
Who among the following has tremendous influence in forming the true public opinion?

A

Press

B

Political parties

C

Educational intuitions

D

God man