50. Personal profits earned after dissolution.
Subject to contract between the partners, the provisions of clause (a) of section 16 shall apply to transactions by any surviving partner or by the representatives of a deceased partner, undertaken after the firm is dissolved on account of the death of a partner and before its affairs have been completely wound up:
Provided that where any partner or his representative has brought the goodwill of the firm, nothing in this section shall affect his right to use the firm name.
- Reference, Review, and Revision in Civil Procedure Code - 28th March 2024
- Witness and Types of Witness Under Indian Evidence Act - 18th March 2024
- How to Start Studying Law – For New, Existing, and Old Students - 3rd March 2024