Section 52 of the Indian Partnership Act, 1932 deals with:
Section 52 sets out the rights of a party who rescinds a partnership contract "on the ground of fraud or misrepresentation of any of the parties thereto": a lien on surplus…
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Section 52 of the Indian Partnership Act, 1932 deals with:
Answer and explanation
Correct answer A
Section 52 sets out the rights of a party who rescinds a partnership contract "on the ground of fraud or misrepresentation of any of the parties thereto": a lien on surplus assets, the rank of a creditor for payments of firm debts, and indemnity from the guilty partner. Sale of goodwill is in s.55, settlement of accounts in s.48 and restraint on use of the firm name in s.53.
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