Q.1: (a) Wasim, Ahmed and salman are partners in a firm. Salman died in a plane crash. Wasim and Ahmed agreed to admit Salman's minor son, Noman, to the benefits of the Partnership. Noman attained majority on 6 june 2016. He became aware of the fact that he had been admitted to the benefits of the partnership on 16^th July 2016. Being undecided about joining the firm as a partner, he preferred to wait for some time.

On 10 January 2017, the firm suffered heavy losses due to a fire in one of its factories. Wasim and Ahmed informed Noman that an account of losses, his entire capital has been wiped off and he is requiredto contribute Rs 100,000 to enable the firm to settle its liabilities

Under the provisions of the Partnership Act 1932 analyse the above situation and advise whether Noman would be regarded as a partner in the firm. Also state his liabilities towards the losses, if any.

Q.1: (b) Ms Hina, Ms shabnam and Ms zarmina are three partners in a sadabahar beauty parlor, Ms Hina and Ms Shabnam has the investment of one hundred thousand each. Ms Zarmina is partner but neither she has constructed any capital nor she is working in the sadabahar beauty parlor but she is sharing 5% of the gross profit. They want to expend their business and required additional capital; they discuss this situation with Ms Sadaf that they want a partner/person who can invest one hundred thousand in existing partnership. Ms Sadaf agreed with the condition that he will neither percipient in the management of business nor will be responsible for any loss, and will take Rs 4000 p/m.

Mention the type of partner Miss Zarmeena and Miss Sadaf is or is not with reason. Also mention that incase of any suit filed by the aggrieved party, will Ms Zarmina be liable to any suit cost.

Q.1: (c) Mr Kashif and Mr ismail and Mr Nadeem are working partners and all other are sleeping partners the power of working partner has not been defined by the other partners.

Mr. Asim has filed a suit against them to settle the dispute of 30,000 instead of 50,000 for which summon of the court has been received by them on 15/5/2020 to attend the process on 17/5/2020, also Asim has offer them to sell their one plot adjacent to the firm's business for Rs 10,00,000. Although they have some knowledge of rules of partnership but they are still confused, whether they should sell the plot as being active partner or should they consult with sleeping partner.

Please held them by specifying three answer with regard to Partnership Act 1932.

Q.2: (a) It is a fundamental principal of contract of guarantee that surety will be liable to pay if debtor is liable to pay for the debit but Mr Waqas bought a TV from Dilawar and kamran was surety, Mr Waqas makes a default in the payment, Mr Dilawar come to know that neither he can recover payment nor can sue the debtor ultimately kamran was consider liable for payment of debt, despite the debtor is not liable, discuss when and how it can be happen explain briefly, also discuss that after payment of debt can Mr Kamran sue Mr Waqas if yes than under which acquired rights.

Q.2: (b) Discuss the four circumstances when surety is considered invalid.

Q.2: (c) A contracted to build a ship for B, the contract money to be paid in two installments, 60% advance and 40% after completion of work. C become surety for the due performance of contract by A, B paid remaining 40% before completion of work without informing C.

A fails to complete the work, is surety liable to pay, mention the term used for this type of surety.