Recently Rajat, a friend of Shrey, who is a partner in an audit firm Shanker Enterprise‘on Shrey‘s
request accompanies him to a business meeting with Prabhu Enterprises‘ and actively participates in
the negotiation process for a business deal. Rajat gives the impression that he is also a partner in
Shanker Enterprise‘. Later on, credit is extended to Shanker Enterprise‘on the basis of these
negotiations. In context of the above case :- 8
Can legally binding partnership arise where no formal partnership agreement is in effect? Explain
with reference to Rajat.
Narinder bought a life insurance policy for himself. He was suffering from a chronic disease which
he did not mention before the insurer while buying the life insurance policy. Later on this fact
came into notice of the insurance company.
a) Name the explain principle of insurance neglected by the insured.
Answers
Answer:
recently and was nice dp I am in a very tight mood for a while now wt if I don't have a good idea about it I can go man and I will get you the money for it and get it back on Monday or Wednesday if possible so that I may get a few more days of the following weekend to go man and get the kids and the kids to be able and not just be the first thing
A legal, binding partnership that may occur where previously, no formal partnership agreement was in place. A person who exhibits such conduct, or says words that represent, or allow him to be represented, as a partner in any firm becomes liable to any loans or credits that are obtained by the firm. It is also known as the presumption of partnership.
a)Ans: Following the principle of insurance neglected by the insured.
1. The principle of utmost good faith, states that the insurer and the insured must disclose all material facts before the policy inception.
2. Facts that may enhance the level of risk are called material facts.