Partership

Querist : Anonymous (Querist) 13 November 2011 This query is : Resolved
holding out principle applies if partner hold out to 3rd party and firm incurs liabilty then holding out partner is liable.my ques is whether creditor also should have seen parners name before he recover his credit given to firm.whether par act cast a duty for him to check names of partner?

Follow Query

Report Abuse

Querist : Anonymous (Querist) 13 November 2011
i want to know what is duty of creditor.

ajay sethi (Expert) 13 November 2011
creditor has given credit tot he the firm not individual partner. creditor is not required to check names of partners .

order must have been placed by firm for supply of goods .all partners are liable

Chanchal Nag Chowdhury (Expert) 13 November 2011
Creditor can go after the partners in addition to the partnership.

Querist : Anonymous (Querist) 13 November 2011
even if we assume for a while he give credit to firm but still law not require him to first investigate in reg office.pls remove my reasonable doubt.

ajay sethi (Expert) 13 November 2011
no not necessary

prabhakar singh (Expert) 13 November 2011
To hold out means either person himself represented directly as partner believing on which third party acted or he so pretended on other's representation that he is a partner either by his silence or other wise then third party has right and option to bind such a holder as well as other partners either jointly or severally.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries