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Forms Of Business Organization
Question
Define 'Partner by Holding Out'.
Solution
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A 'Partner by Holding Out' is a person who is not a partner in a firm but knowingly allows himself/herself to be represented as a partner in a firm.
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Such a person becomes liable to outside creditors for repayment of any debts which have been extended to the firm on the basis of such representation.
Some More Questions From Forms of Business Organization Chapter
Give the meaning of a sole proprietorship organization.
What is the meaning of a Joint Hindu Family business.
Can a minor become a member of Joint Hindu Family?
What is the meaning of Partnership organization?
Can a Partnership firm have a minor partner ?
Define partnership deed.
What do you understand by co-operative society?
Define company.
What do you understand by a Private Company?
What do you understand by a Public Company?
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Mock Test Series
Mock Test Series