Blanka Bartova
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HND Legal Services Quiz on Partnerships, created by Blanka Bartova on 16/04/2016.

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Blanka Bartova
Created by Blanka Bartova about 8 years ago
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Partnerships

Question 1 of 6

1

A partnership is a contract between 2 or more parties who wish to carry on a business as a partnership

Select one of the following:

  • True
  • False

Explanation

Question 2 of 6

1

Section of the defines partnerships as "the which subsists between carrying on a business in common with a view to "

Drag and drop to complete the text.

    1
    2
    Partnership Act
    1890
    1980
    1999
    relation
    relationship
    persons
    partners
    profit
    win
    Partner Act

Explanation

Question 3 of 6

1

A written agreement is necessary to set out the agreement between the parties in a partnership

Select one of the following:

  • True
  • False

Explanation

Question 4 of 6

1

What will happen when partners fail to agree

Select one of the following:

  • Take them to court

  • The default provisions of the Partnership Act will apply

Explanation

Question 5 of 6

1

What do the default provisions state inter alia?

Select one or more of the following:

  • Each partner shall contribute equally to the partnership capital

  • Each partner should invest all of their money

  • Each partner will share equally the profits and losses of the partnership

  • Each partner is an agent of the business (and of the other partners) for contracts in the ordinary course of business

  • Each partner is an agent of the partnership (and of the other partners) for contracts in the ordinary course of business

Explanation

Question 6 of 6

1

Select from the dropdown lists to complete the text.

If the partnership wishes to trade in a name other than the names of the partners, it must register the name of the partnership with the ( Register of Business names, Register, Business ) under the ( Business Names Act 1985, Business Act 2007, Business Names ) and before the name will be registered, the ( Registrar, Register, Keeper ) requires to be satisfied that the name is not too like an already registered name and does not contain any restricted words such as ( Bank, Bingo ), ( Pharmaceutical, Pharmacutical ), ( Royal, Rise ) or ( Insurance, Insure ).

Explanation

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