WritingLaw (Page 81)

CHAPTER I – PRELIMINARY 1. Short title, extent and commencement. (1) This Act may be called the Indian Partnership Act, 1932. (2) It extends toRead More →

2. Definitions. In this Act, unless there is anything repugnant in the subject or context,- (a) an “act of a firm” means any act orRead More →

3. Application of provisions of Act 9 of 1872. The unrepealed provisions of the Indian Contract Act, 1872, save in so far as they areRead More →

CHAPTER II – THE NATURE OF PARTNERSHIP 4. Definition of “partnership”, “partner”, “firm” and “firm name”. ’’Partnership” is the relation between persons who have agreedRead More →

5. Partnership not created by status. The relation of partnership arises from contract and not from status; and, in particular, the members of a HinduRead More →

6. Mode of determining existence of partnership. In determining whether a group of persons is or is not a firm, or whether a person isRead More →

7. Partnership at will. Where no provision is made by contract between the partners for the duration of their partnership, or for the determination ofRead More →

8. Particular partnership. A person may become a partner with another person in particular adventures or undertakings. Partnership Act full Bare Act Download Partnership ActRead More →

CHAPTER III – RELATIONS OF PARTNERS TO ONE ANOTHER 9. General duties of partners. Partners are bound to carry on the business of the firmRead More →

10. Duty to indemnify for loss caused by fraud. Every partner shall indemnify the firm for any loss caused to it by his fraud inRead More →

11. Determination of rights and duties of partners by contract between the partners. (1) Subject to the provisions of this Act, the mutual rights andRead More →

12. The conduct of the business. Subject to contract between the partners,- (a) every partner has a right to take part in the conduct ofRead More →

13. Mutual rights and liabilities. Subject to contract between the partners,- (a) a partner is not entitled to receive remuneration for taking part in theRead More →

14. The property of the firm. Subject to contract between the partners, the property of the firm includes all property and rights and interests inRead More →

15. Application of the property of the firm. Subject to contract between the partners, the property of the firm shall be held and used byRead More →