Question

Pick the incorrect statement.

• A. A partner in possession of more information about the affairs and assets of the firm should not disclose to his co-partners.
• B. Every partner should indemnify the firm for any loss caused to it due to his fraud.
• C. A retired partner is not liable for acts of the firm done before his retirement.
• D. Every partner should use the property of the firm for firm’s purposes only.

Answer 1

The Correct Option is C

The correct option is (C): A retired partner is not liable for acts of the firm done before his retirement..