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11th Standard English Medium Commerce Subject Hindu Undivided Family and Partnership Book Back 2 Mark Questions with Solution Part - I updated Book back Questions

Published on: 13/05/2022

QB365 provides detailed and simple solution for every Book back Questions in class 11 Commerce Subject. It will helps to get more idea about question pattern in every book back questions with solution.

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Download Tamil Nadu 11th Standard Commerce question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.

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Std: 11th Standard - Commerce

chapter: - Book back Questions

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Questions:

Generic 2

5 x 2 = 10

How many types of Dissolution?

Who is a Minor?

Who is a Sleeping partner?

What are the two schools of Hindu law?

Who is called KARTA?

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Answers Key:

Generic 2

5 x 2 = 10

Under the Indian Majority Act, person who has not completed 18 years of age is a minor. However, he will continue to be a minor till he completes 21 years if a guardian has been appointed to the minor. He can be admitted to the benefits of partnership.
Partnership arises as a result of contract. But a minor has no contractual capacity. Though a partnership cannot be created with a minor as a partner, a minor can be admitted to the benefits of a partnership which is already in existence. The consent of all partners is a 'must' for such admission.

i. Sleeping partner contributes capital and shares in the profits or losses of the firm but does not take part in the management of the business.
ii. He may not be known as a partner to the outsiders; yet he is liable to third parties to an unlimited extent às any other partner.
iii. It is also known as Dormant partner.

The two schools of Hindu law are:
i. Dayabhaga
ii. Mitakshara.

All the affairs of a Joint Hindu Family are controlled and managed by one person who is known as 'Karta' or 'Manager'. The Karta is the senior most male member of the family.