Partner Liability – NBC Institute

BCL – Apr 2022 – L1 – Q4b – Alternative forms and constitutions of business organisations

Analyze partner and firm liabilities under the Incorporated Private Partnership Act 1962, and advise on a partner's claim for expense reimbursement.

Question

b) Kojo Mintah is a partner in a firm of surveyors. While travelling in the course of an approved duty in the firm’s car, he bought GH¢500 worth of fuel for the use of the car. He submitted the receipt of purchase to the managing partner for refund. The managing partner has refused to pay.

Required:

i) State TWO (2) liabilities imposed on partners and TWO (2) liabilities imposed on the firm by the Incorporated Private Partnership Act, 1962 (Act 152).

(4 marks)

ii) Advice Kojo Mintah on his claim. (4 marks)

Answer

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Tags: Firm Liability, Incorporated Private Partnership Act, Partner Liability, Partnership
Level: Level 1

Topic: Alternative forms and constitutions of business organisations
Series: APR 2022

Question Tag: Partner Liability

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BCL – Apr 2022 – L1 – Q4b – Alternative forms and constitutions of business organisations

Analyze partner and firm liabilities under the Incorporated Private Partnership Act 1962, and advise on a partner's claim for expense reimbursement.

BCL – Apr 2022 – L1 – Q4b – Alternative forms and constitutions of business organisations

Analyze partner and firm liabilities under the Incorporated Private Partnership Act 1962, and advise on a partner's claim for expense reimbursement.

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BCL – Apr 2022 – L1 – Q4b – Alternative forms and constitutions of business organisations

Analyze partner and firm liabilities under the Incorporated Private Partnership Act 1962, and advise on a partner's claim for expense reimbursement.

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BCL – Apr 2022 – L1 – Q4b – Alternative forms and constitutions of business organisations

Analyze partner and firm liabilities under the Incorporated Private Partnership Act 1962, and advise on a partner's claim for expense reimbursement.

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