Saved Bookmarks
| 1. |
Give the word / term or phrase which can substitute the following statement.A partner who acts and behaves like a partner, but he is not a partner of the firm. |
|
Answer» Partner by Estoppel or Holding out Explanation: A partner who is actually not a partner of the firm but represents to the outside world that he is a partner in the firm is regarded as a partner by estoppel or holding out. Also, such persons are liable to outsiders as partners because on the faith of their representation, outsiders have granted credit to the firm. |
|