When property is purchased out of partnership funds but in the name of an individual partner, it
Property bought with firm money is presumed to belong to the firm under section 14 of the Indian Partnership Act, 1932. Title in an individual partner's name does not alone…
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When property is purchased out of partnership funds but in the name of an individual partner, it
Answer and explanation
Correct answer B
Property bought with firm money is presumed to belong to the firm under section 14 of the Indian Partnership Act, 1932. Title in an individual partner's name does not alone displace this presumption; a contrary intention must appear.
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