Which of the following is true ........

Miscellaneous Others

Which of the following is true?

Liability of a new partner commences from the date of notice in case of default

The partner can be made liable for pre-existing debts

He can be made liable for pre-existing debts only upon an agreement binding on the partners as well as the creditors of the firm

None of the above

Explanation:

Section 31 of Partnership Act –

31. Introduction of a partner. (1) Subject to contract between the partners and to the provisions of section 30, no person shall be introduced as a partner into a firm without the consent of all the existing partners. (2) Subject to the provisions of section 30, a person who is introduced as a partner into a firm does not thereby become liable for any act of the firm done before he became a partner.