The essential elements of a partnership __________.

Must coexist before a partnership can come into existence.
May be brought in within a reasonable time of a partnership coming into existence.
May be brought in any time either during the creation of partnership or even thereafter.
May not coexist before a partnership can come into existence, but they must coexist within one year of a partnership coming into existence.

The following are the essential elements which need to co-exist in order to make a valid contract:

Where the buyer repudiates the contract before the date of delivery, there the seller may treat such contract as:

The test of good faith as provided in ‘expulsion of the partner’ in the Indian Partnership Act, 1932 requires the following:

The court may order for specific performance of the contract in case of breach of contract of sale by seller only when:

The features of a Quasi Contract are as follows:

Such contracts do not arise from any agreement of the concerned parties. It is imposed by law.
Such a right is always a right to money, very often a right to a liquidated sum of money.
It is a right available against a particular person or persons only, not against the world at large.
All of the above

Right to bid in case of an auction sale, may be reserved by

Silent is fraudulent in the following cases:

If the circumstances of the case are such that, regard being had to them, it is the duty of the person keeping silence to speak.
Where the circumstances are such that silence is in itself equivalent to speech.
Both (a) and (b).
None of the above

Prime facie evidence of existence of partnership is :

The cardinal principle of partnership law implies that

The business must be carried on by all the partners or by anyone or more of the partners acting for all.
The business may be carried on by all the partners acting for all.
The business may be carried on by anyone or more of the partners acting for all.
The business must be carried on in accordance with the decided profit (loss) sharing ratio

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