RELATIONS OF PARTNER TO ONE ANOTHER Flashcards

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1
Q

Mutual rights and duties of partners names only?

A
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2
Q

right to take part in conduct of business?

A
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3
Q

right of access to books?

A
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4
Q

right to be consulted?

A
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5
Q

right to be indemnified?

A
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6
Q

right to share profits equally?

A
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7
Q

right to receive interest on advance?

A
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8
Q

right to receive interest on capital?

A
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9
Q

right of outgoing partner?

A
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10
Q

variation in partnership?

A
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11
Q

rights of partner after a change in a firm?

A
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12
Q

general/mandatory/absolute duties of partners explain and names only?

A
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13
Q

duty to be liable jointly and severally?

A
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14
Q

duty to act within authority?

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15
Q

duty in case of emergency?

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16
Q

duty to be just and faithful?

A
17
Q

duty to provide true accounts?

A
18
Q

duty to provide full information?

A
19
Q

duty to be indemnify for fraud?

A
20
Q

duty to bring the firm to greatest common advantage?

A
21
Q

qualified duties of partners explain and names?

A
22
Q

duty to use firms property exclusively for the firm?

A
23
Q

duty not to engage in competing business?

A
24
Q

duty not to assign/transfer his interest?

A
25
Q

duty to compensate losses?

A
26
Q

duty to indemnify for willful neglects?

A
27
Q

duty to diligently perform his duties?

A
28
Q

duty to work without remuneration?

A
29
Q

property of the partnership/firm?

A