16. Personal profits earned by partners.
Subject to contract between the partners,-
(a) if a partner derives any profit for himself from any transaction of the firm, or from the use of the property or business connection of the firm or the firm name, he shall account for that profit and pay it to the firm;
(b) if a partner carries on any business of the same nature as and competing with that of the firm, he shall account for and pay to the firm all profits made by him in that business.
Study Material
8+ Years of Trust
Law PDFs
Law Tests
Everything
For everyone in law
56 Bare Act PDFs
Beautiful, colorful PDFs to read anywhere
110+ complimentary PDFs
100 Law Notes + Legal Maxims, and more...
₹340
One-time payment · Free updates · Instant access
For those who have read Bare Acts
23 Subject Wise Tests
MCQs from one law subject
10 Mixed Law Tests
MCQs from multiple subjects
₹1200
Online Tests · Offline PDFs · Keep test PDFs forever
Best Value: ₹215 Discount
All Law PDFs worth Rs 340
56 Bare Act PDFs + All complimentary PDFs
All Law Tests worth Rs 1200
33 Tests + 33 Test PDFs
₹1325
Buying separately costs 340 + 1200 = Rs 1540
