Question:
Deepa, Guddi and Vani are partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Deepa wants to transfer half of her share in favour of her son Deepak without the consent of Guddi and Vani. Can Deepa transfer her share? Give reason in support of your answer. State the feature of partnership highlighted in the above case.
Deepa, Guddi and Vani are partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Deepa wants to transfer half of her share in favour of her son Deepak without the consent of Guddi and Vani. Can Deepa transfer her share? Give reason in support of your answer. State the feature of partnership highlighted in the above case.
Show Hint
Transfer of partnership share needs consent of all partners due to mutual trust and agreement.
Updated On: Jul 4, 2025
Hide Solution
Verified By Collegedunia
Solution and Explanation
No, Deepa cannot transfer her share in the partnership to her son Deepak without the consent of the other partners, Guddi and Vani.
Reason:
In a partnership, a partner cannot transfer his or her share in the firm to an outsider without the consent of all other partners because partnership is based on mutual agreement and mutual trust.
Feature of partnership highlighted:
Consent of All Partners Required for Transfer of Share —
Partnership requires the unanimous consent of all partners before any partner can transfer their share to a third party. This protects the interests and rights of existing partners.
Reason:
In a partnership, a partner cannot transfer his or her share in the firm to an outsider without the consent of all other partners because partnership is based on mutual agreement and mutual trust.
Feature of partnership highlighted:
Consent of All Partners Required for Transfer of Share —
Partnership requires the unanimous consent of all partners before any partner can transfer their share to a third party. This protects the interests and rights of existing partners.
Was this answer helpful?
0
0
Top Questions on Forms of Business Organizations
- Aruna, passionate about baking, opened a bakery shop. She borrowed ₹50,000 from her father and took a loan of Rs. 1,00,000 from a bank to start the business. To attract customers, she set the prices too low. Later, she noticed that the revenue earned was not enough to cover the costs. When the loan became due, she was unable to pay. The bank recovered the loan from Aruna’s personal assets, including her savings and property. Can Aruna’s personal property be called upon to pay her business debts? Give reason in support of your answer. State the feature of sole proprietorship highlighted in the above case.
- CBSE CLASS XII - 2025
- Entrepreneurship
- Forms of Business Organizations
- Read the following statements: Assertion (A) and Reason (R).
Assertion (A): It is not compulsory to register a partnership firm as there are no penalties for non-registration.
Reason (R): An unregistered partnership firm can file a suit in any court against the firm or other partners for enforcement of any right arising from a contract or right conferred by the Partnership Act.
- CBSE CLASS XII - 2025
- Entrepreneurship
- Forms of Business Organizations
- Sudershan has undergone skill development training for maintenance of electronic items, from an institute started under the ‘Skill Development Mission’ by the Government of India. He wants to start his own small business in his locality with<1,00,000 given by his father as capital. He himself wants to manage and control this business, employing some assistants, if required. Out of the following, suggest the form of business organisation he can adopt:
- CBSE CLASS XII - 2025
- Entrepreneurship
- Forms of Business Organizations
- ‘The business of partnership firm can be carried on by all the partners or any one of them acting for all.’ This statement indicates which of the following characteristic of partnership?
- CBSE CLASS XII - 2025
- Entrepreneurship
- Forms of Business Organizations
- "Many reputed organizations keep a database of unsolicited applications in their offices based on which a list of job-seekers can be prepared and can be screened to fill the vacancies as they arise". Identify the source referred of recruitment above.
- CUET (UG) - 2023
- Business Studies
- Forms of Business Organizations
View More Questions
Questions Asked in CBSE CLASS XII exam
- Find the image \( A' \) of the point \( A(2,1,2) \) in the line \[ l: \mathbf{r} = 4\hat{i} + 2\hat{j} + 2\hat{k} + \lambda (\hat{i} - \hat{j} - \hat{k}). \] Also, find the equation of the line joining \( A A' \). Find the foot of the perpendicular from point \( A \) on the line \( l \).
- If a line makes angles of \( \frac{3\pi}{4} \) and \( \frac{\pi}{3} \) with the positive directions of \( x \), \( y \), and \( z \)-axes respectively, then \( \theta \) is:
- Differentiate \(\frac{\sin x}{\sqrt{\cos x}}\) with respect to x.
- CBSE CLASS XII - 2025
- Differentiation
- For a reaction X + Y → Z, in which both X and Y follow first order kinetics; if the concentration of X is increased 2 times and concentration of Y is increased 3 times, how does it affect the rate of reaction?
- CBSE CLASS XII - 2025
- Chemical Kinetics
- Find the angle at which the given lines are inclined to each other: \[ l_1: \frac{x - 5}{2} = \frac{y + 3}{1} = \frac{z - 1}{-3} \] \[ l_2: \frac{x}{3} = \frac{y - 1}{2} = \frac{z + 5}{-1} \]
View More Questions