{"id":55852,"date":"2024-04-16T00:34:31","date_gmt":"2024-04-16T00:34:31","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=55852"},"modified":"2024-04-16T00:34:31","modified_gmt":"2024-04-16T00:34:31","slug":"a-partnership-firm-is-illegal-when","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/a-partnership-firm-is-illegal-when\/","title":{"rendered":"A partnership firm is illegal when"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Any of the partners is from enemy country&#8221; option2=&#8221;Established for unlimited period&#8221; option3=&#8221;There are seven partners&#8221; option4=&#8221;Registered under the Partnership Act&#8221; correct=&#8221;option1&#8243;]<!--more--><\/p>\n<p>The correct answer is: A. Any of the partners is from enemy country.<\/p>\n<p>A partnership firm is illegal when any of the partners is from an enemy country. This is because, under the Partnership Act, a partnership firm can only be formed between two or more persons who are natural persons, i.e., human beings. A partnership firm cannot be formed between a natural person and a juristic person, i.e., a legal entity such as a company. An enemy country is a country with which India is at war. Therefore, a partnership firm cannot be formed between a person from India and a person from an enemy country.<\/p>\n<p>The other options are not correct because:<\/p>\n<ul>\n<li>A partnership firm can be established for an unlimited period.<\/li>\n<li>There is no limit on the number of partners in a partnership firm.<\/li>\n<li>A partnership firm is not required to be registered under the Partnership Act. However, it is advisable to register a partnership firm for the sake of convenience and to enjoy certain benefits.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Any of the partners is from enemy country&#8221; option2=&#8221;Established for unlimited period&#8221; option3=&#8221;There are seven partners&#8221; option4=&#8221;Registered under the Partnership Act&#8221; correct=&#8221;option1&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-55852","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A partnership firm is illegal when<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/a-partnership-firm-is-illegal-when\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A partnership firm is illegal when\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Any of the partners is from enemy country&#8221; 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