An HUF can also become partner in a partnership firm, with the consent of all coparceners.

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Important Questions on Banking Law and Practice

HARD

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 2

Local Area Bank has opened a current account in the name of a HUF which is operated by Karta. Subsequently, Karta gives a mandate in favor of an employee of the HUF firm to operate the account for a limited amount. Two coparceners of the HUF have sent a notice to the bank not to permit the employee to operate the account as Karta has not consulted them about the appointment:

MEDIUM

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 3

The liability of a minor or any other coparcener in an HUF, for the acts of a Karta is:

EASY

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 4

For cheques issued by Karta and his agent, stop payment can be done by any coparcener:

MEDIUM

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 5

Ravi Kumar and Sons, an HUF, maintain a current account. The Karta of the HUF dies and leaves behind three family members i.e. his wife and two minor sons. How will you deal with the account:

MEDIUM

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 6

Ram Lal and Sons, an HUF concern, is having current account operated by Karta, who dies:

MEDIUM

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 7

Who among the following are considered as part of a Hindu Undivided Family:

MEDIUM

Bihar Cooperative Bank Assistant Mains