Notwithstanding anything contained in Sec 27 of the Indian Contract Act 1872 such contracts may prov...........

Indian Partnershoip Act (IPA) 1930 Others

Notwithstanding anything contained in Sec 27 of the Indian Contract Act, 1872, such contracts may provide' that a partner shall not carry on any business other than that of the firm while he is a partner. In view of this, mark the incorrect statement:

Sec. 11(2) of the Partnership Act is an exception to Sec. 27 of the Contract Act

A partner may not be restrained from carrying on any other business, whether competing or non-competing, other than that of the firm.

If a partner carries on any business of the same nature as and competing with that of the firm, he shall account for and pay to the firm all profits made in the competing business.

A partner may carry on another private business, so long as it does not êompete with and is not connected with the business of the firm and so long as he does not represent it to be the business of the firm.

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