51. Return of premium on premature dissolution.
Where a partner has paid a premium on entering into partnership of a fixed term, and the firm is dissolved before the expiration of that term otherwise than by the death of a partner, he shall be entitled to repayment of the premium or of such part thereof as may be reasonable, regard being had to the terms upon which he became a partner and to the length of time during which he was partner, unless,-
(a) the dissolution is mainly due to his own misconduct, or
(b) the dissolution is in pursuance of an agreement containing no provision for the return of the premium or any part of it.
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.
