'D', a partner of the business firm dies and the surviving partners carry on the business with property…
Under s.37, where surviving partners carry on the business with the firm's property without settling accounts, the deceased's estate is entitled, at its option, to such…
Choose your answer
'D', a partner of the business firm dies and the surviving partners carry on the business with property of the firm without final settlement of account. The firm makes profit. Widow of D would be entitled to
Answer and explanation
Correct answer D
Under s.37, where surviving partners carry on the business with the firm's property without settling accounts, the deceased's estate is entitled, at its option, to such share of profits as is attributable to the use of his share or to interest at 6% per annum, so the widow gets "either share in the profit or interest at the rate of 6% per annum", not both.
Practice for these exams
-
UGC NET Law
Subject revision
See pack details on LawMint.net -
CUET PG Law (LL.M.)
Subject revision
-
Uttarakhand Judicial Services
Subject revision