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प्रश्न
What is meant by 'partner by estoppel'? Explain.
उत्तर
A person can be regarded as a 'partner by estoppel', if he or she through his/her actions or behaviour, leaves an impression on third parties that he or she is a partner in a particular firm. This means that if a person behaves in a manner that makes third parties consider this individual as one of the actual partners, then he or she is regarded as a ‘partner by estoppel’. Such a partner (by estoppel) is actually not a partner, as he or she neither contributes any capital to the firm nor actively participates in the operations of the firm and is not entitled to any share in the firm’s profits or losses. Nevertheless, he or she can be held liable for the debts that the firm owes to third parties. Accordingly, if the funds available to the firm fall short of requirement for the repayment of debts, then the private assets of a partner by estoppel can be used to repay the debts.
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संबंधित प्रश्न
Write only ‘one’ word or phrase or term which can substitute the following statement :
A partner who gives only his name to the partnership firm.
Write short answer of the following.
State the types of partners.
Write short note on the following.
Type of partners
Explain the Types of Partners?
Who is a Sleeping partner?
Who is a Minor?
Who is called a Secret partner?
Can a minor is admitted in the partnership business – Why?
