CA CPT Model Test Paper 9 with solutions for online practice

Question : 73 of 199

Marks: +1, -0

Ram, Rohit and Kiran jointly borrowed Rs.2,00,000 from Rahim by executing a promissory note. Rohit and Kiran are not traceable. Rahim wants to recover the entire amount from Ram. Ram objected this move by saying he is liable to pay

1/3

of the debt only. Which of the following statement(s) is correct?

Rahim can recover the entire amount from Ram.
Rahim can only recover $1/3$ of Rs.2,00,000 from Ram.
Rahim cannot recover any amount from Ram.
The promissory note is not executable against Ram as Rohit and Kiran are not traceable.

Validate

Go to Question:

Prev Question

Next Question