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Published on: 27/06/2021
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Questions + Answers key
Take MCQ Commerce Test1.
What is meant by Dayabhaga Law?
2.
What is meant by Mitakshara Law?
3.
What is Particular partnership?
4.
What is unlimited liability?
5.
If it is possible in dissolution of Joint Hindu Family business?
1.
According to Dayabhaga Law, the right of property develops on the Coparceners by succession and not by birth. The share in the property is not fluctuating on the basis of births and deaths. The share are specified prior to partition. The coparceners can alienate their share of property given without the concern of their coparceners.
2.
According to Mitakshara law, only the male members in the family get the right of inheritance by birth. It is applied throughout India except Assam and West Bengal.
3.
When a partnership is formed to carry on a particular venture or a business of temporary nature, it is called particular partnership. In other words, it comes to an end on the completion of the particular venture.
4.
The liability of a sole trader is unlimited. Since, apart from his business assets, even his private properties are also available for satisfying the claims of creditors. Hence, creditors may give more loans because they can get back the loan from the personal properties of sole traders.
5.
Yes. But it can be dissolved only at the will of all the members of the family. Any single member has not right to get the business dissolved. It should be done through mutually agreed partition deed registered by paying proper stamp duty meant for it.
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Tamilnadu Stateboard 11th Standard Subjects

Maths

Commerce

Economics

Biology

Business Maths and Statistics

Accountancy

Computer Science

Physics

Chemistry

Maths

Biology

Economics

Physics

Chemistry

History

Business Maths and Statistics

Computer Science

Accountancy

Computer Applications

History

Computer Technology

Commerce

Computer Applications

Computer Technology

Tamil

English

French
Tamilnadu Stateboard Standards