34. Insolvency of a partner.
(1) Where a partner in a firm is adjudicated an insolvent he ceases to be a partner on the date on which the order of adjudication is made, whether or not the firm is hereby dissolved.
(2) Where under a contract between the partners the firm is not dissolved by the adjudication of a partner as an insolvent, the estate of a partner so adjudicated is not liable for any act of the firm and the firm is not liable for any act of the insolvent, done after the date on which the order of adjudication is made.
WritingLaw offers important Bare Act PDFs, Law Notes, Law Q&As, Law Articles, Law MCQ Tests, and more.
Latest posts by WritingLaw (see all)
- Section 338 BNS (Bharatiya Nyaya Sanhita) - 2nd September 2025
- Section 339 BNS (Bharatiya Nyaya Sanhita) - 1st September 2025
- Section 340 BNS (Bharatiya Nyaya Sanhita) - 1st September 2025
WritingLaw » Indian Partnership Act » 
You’ll love our Bare Act PDFs and Law MCQ Tests. We also have the Bare Act PDFs for three new Acts: BNS, BNSS, and BSA.
