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CPT MERCANTILE LAW CHAPTER -3 THE INDIAN PARTNERSHIP ACT ,1932
CA. DIPTI LUNAWAT
Registration and Dissolution of a Firm Unit 3 Part [1/4]
MODES OF EFFECTING REGISTRATION
CONSEQUENCES OF NON- REGISTRATION
DISSOLUTION OF FIRM
CONSEQUENCES OF DISSOLUTION
MODES OF GIVING PUBLIC NOTICE
Learning Objectives
Mode of Registration
BY SENDING BY POST
OR DELIVERING STATEMENT IN
PRESCRIBED FORM.
AREA WHERE PRINICPAL PLACE OF
BUSINESS IS SITUATED
SIGNED BY ALL PARTNERS OR
AGENTS AUTHORIZED.
Content of Statement for Registration
FIRM’S NAME PRINICPAL PLACE OF BUSINESS
NAME OF OTHER PLACE OF BUSINESS
DATE OF JOINING OF PARTNERS
FULL AND PERMANENT ADDRESS OF
PARTNERS
DURATION OF FIRM
Registration Certificate
Registrar is satisfied , Sec.
58 duly complied
Record an entry in register of
firms
Issue registration certificate
When Registration is Complete
Date of Filing of duly signed and
verified statement along with prescribed form & fees.
Important Points of Registration
RECORDING OF AN ENTRY IN REGISTER OF FIRMS IS ROUTINE DUTY
SUBSEQUENT ALTERATIONS MUST BE REGISTERED
REGISTRATION CAN BE EFFECTED ANYTIME
Consequences of Non Registration
NO SUIT IN BY FIRM AGAINST THIRD PARTY
NO RIGHT TO CLAIM SET –OFF OF IN EXCESS OF
RS.100
NO SUIT BY A PARTNER AGAINST FIRM OR OTHER
PARTNERS
Right not Affected by Non-Registration
THIRD PARTY CAN SUE FIRM
SUE FOR DISSOLUTION
POWER OF OFFICIAL ASSIGNEE
SUE OR CLAIM A SET-OFF LESS THAN RS. 100
Requirement for Filing Suit by Firm
Registered Firm Registered
Partners
Suit Maintainable by Non Registered Firm
Suit Filled by Non Registered
Rejected
Register the Firm & File a
Fresh Suit
Questions
Questions On Modes of Registration & Effects of
Non- Registration
Question No.1
Though the registration of a firm is optional, yet indirectly it becomes necessary due to the reason that.
A] A firm legally comes into existence only on registration.
B] A firm can deal with third parties only on registration.
C] The disabilities due to non-registration are removed only on registration.
D] Both (A) and (B)
Ans C
Question No.2
The prescribed application form for registration of the firm should be deposited with the Registrar of Firms of that area.
A] Which is convenient for partners.
B] In which the working partner of the firm resides.
C] In which any place of business of firm is situated or proposed to be situated.
D] Which is agreed by all the partners for the purposes of registration.
Ans C
Question No.3
Which of the following statement, about the registration of a firm is incorrect
A] It may be effected before filing a suit against third party.
B] It may be effected at any time after its formation.
C] It may be effected at the time of its formation
D] It must be effected at the time of its formation.
Ans D
Question No.4
As per the accepted view, the registration of the firm is considered complete when
A] Complete application for registration is filed with the Registrar.
B] Registrar files the statement and makes entries in the “ registrar of firms”.
C] Registrar gives notice of registration to all the partners.
D] Court records the statement and certifies the entries in the registrar of Firms.
Ans B
X, Y and Z are partners in a unregistered firm. X steals the property of the firm. Y filed a suit against X. X resisted Y’s claim on the plea that firm is not registered. Will Y Succeed?
Yes
Question No.5
An unregistered firm goods to W on credit. On the expiry of the term of credit, the firm filed a suit against W for the recovery of the amount due from W. Will the firm succeed? What difference would it make if immediately after filling the suit, the firm got itself registered?
ANSWER : -
Firm cannot succeed as , firm is not registered at the time of institution of suit
It would not make any difference as subsequent registration cannot cure initial defect.
Question No.6
X, Y and Z are partners in a registered firm. X died. The firm filed a suit against W in the name and on behalf of firm without notifying to the Registrar of firms about the changes in the constitution of the firm. Is the suit maintainable?
Yes as both the conditions are satisfied
Question No.7
X, Y and Z are partners in a registered firm. X died. D was admitted as a partner. The firm filed a suit against W in the name and on behalf of firm without notifying to the Registrar of firms about the changes in the constitution of the firm. Is the suit maintainable?
No
Question No.8
An unregistered firm sold goods worth Rs. 1000 to W who gave a cheque which was dishonored. X, a partner demanded money from W who paid only 50% . In the mean time, the firm was dissolved. X sued W for the recovery of balance. Will he succeed?
Yes , Non Registration does not affect transactions in dissolution.
Question No.9
Question No.10
XYZ a partnership firm was constituted on 01.04.2008. on 25th April the partners resolved to get the firm registered with the Registrar of Firm. The Firm prepared the necessary documents for registration on 26th April which were signed on 28th April. They send the documents to the Registrar Office on 30th April by Registered post which was received in the Registrar Office on 4th may, 2008. The firm will be deemed to have been registered on:
A] 30th April
B] 28Th April
C] 20Th May
D] 4Th May
Ans A
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