Ch 12: Relations of Partners to One Another

1. The Duties, Rights and Liabilities of Partners

1-1 General Duties of Partners [I]

YouTube Video (13 minutes)

Notes PDF - BL193


Query: Jo loss hoga wo compensate teeno ko krna prega mtlb equally between them all???? ......Ya phir Beshak wo ek k fraud ki waja sy hua ho bakio ki koi glti na ho to wo loss jiski wja sy hua hoga usne bear krna akeley???.....

Reference: General duties of partners

Response: Example 5 is quite clear on this:

1. Firm will be liable to third party to pay it the compensation.

2. Other partners can claim their portion of compensation from the partner who committed fraud.

1-2 Q&A Mandatory Duties (ICAP Autumn 2019) [O]

1-3 Q&A General Duties of a Partner (ICAP Autumn 2020) [X]

1-4 Rights and Duties by Contract [I]

1-5 Q&A Aftab, Rehan and Bali (ICAP Autumn 2019) [O]

1-6 Rights and Duties relating to conduct of business [I]

1-7 Q&A Asghar, Babar and Careem (ICAP Spring 2017) [O]

1-8 Q&A Krypton Traders & Co (ICAP Spring 2022) [I]

1-9 Mutual Rights and Liabilities [I]

1-10 Q&A Rafiq, Bari and Furqan [O]

1-11 Q&A Abid, Rizwan and Salman (ICAP Autumn 2017) [I]

1-12 Personal Profits Earned by Partners [I]

1-13 Q&A Sohail, Talha, Umair & Co  [O]

1-14 Q&A Gul, Raza and Sami (ICAP Spring 2018) [O]

1-15 Q&A Tahira, Farhan and Sadia (ICAP Spring 2021) [I]

1-16 Q&A Rights and Duties of Partners after change in firm [O]

2. The Property of the Firm

2-1 Partnership Property [R]

2-2 Q&A Kashif, Irfan and Shujaat [O]

2-3 Q&A Bader and Yaseen (ICAP Autumn 2018) [R]

2-4 Application of the property of the firm [R]

2-5 Q&A Rufi (ICAP Spring 2016) [X]

2-6 Q&A Zareer Bridals (ICAP Spring 2022) [I]

2-7 Q&A Property of firm (ICAP Spring 2023) [X]

3. Objective Based Q&A

3-1 MCQs [1 to 10] [O]

3-2 MCQs Past Exams up to Spring 2022 [R]