Civil Law and Procedure
The Indian Partnership Act, 1932
Act 9 of 1932 · 74 sections
Practise questions on Partnership and Sale of Goods Acts
Title, date and preamble
[8th April, 1932.]
An Act to define and amend the law relating to partnership.
WHEREAS it is expedient to define and amend the law relating to partnership; it ishereby enacted as
follows:—
Contents
CHAPTER I PRELIMINARY
CHAPTER II THE NATURE OF PARTNERSHIP
CHAPTER III RELATIONS OF PARTNERS TO ONE ANOTHER
- 9.General duties of partners
- 10.Duty to indemnify for loss caused by fraud
- 11.Determination of rights and duties of partners by contract between the partners. Agreements in restraint of trade
- 12.The conduct of the business
- 13.Mutual rights, and liabilities
- 14.The property of the firm
- 15.Application of the property of the firm
- 16.Personal profits earned by partners
- 17.Rights and duties of partners
CHAPTER IV RELATIONS OF PARTNERS TO THIRD PARTIES
- 18.Partner to be agent of the firm
- 19.Implied authority of partner as agent of the firm
- 20.Extension and restriction of partner's implied authority
- 21.Partner’s authority in an emergency
- 22.Mode of doing act to bind firm
- 23.Effect of admissions by a partner
- 24.Effect of notice to acting partner
- 25.Liability of a partner for acts of the firm
- 26.Liability of the firm for wrongful acts of a partner
- 27.Liability of firm for misapplication by partners
- 28.Holding out
- 29.Rights of transferee of a partner’s interest
- 30.Minors admitted to the benefits of partnership
CHAPTER V INCOMING AND OUTGOING PARTNERS
- 31.Introduction of a partner
- 32.Retirement of a partner
- 33.Expulsion of a partner
- 34.Insolvency of a partner
- 35.Liability of estate of deceased partner
- 36.Rights of outgoing partner to carry on competing business. Agreements in restraint of trade
- 37.Right of outgoing partner in certain cases to share subsequent profits
- 38.Revocation of continuing guarantee by change in firm
CHAPTER VI DISSOLUTION OF A FIRM
- 39.Dissolution of a firm
- 40.Dissolution by agreement
- 41.Compulsory dissolution
- 42.Dissolution on the happening of certain contingencies
- 43.Dissolution by notice of partnership at will
- 44.Dissolution by the Court
- 45.Liability for acts of partners done after dissolution
- 46.Right of partners to have business wound up after dissolution
- 47.Continuing authority of partners for purposes of winding up
- 48.Mode of settlement of accounts between partners
- 49.Payment of firm debts and of separate debts
- 50.Personal profits earned after dissolution
- 51.Return of premium on premature dissolution
- 52.Rights where partnership contract is rescinded for fraud or misrepresentation
- 53.Right to restrain from use of firm name or firm property
- 54.Agreements in restraint of trade
- 55.Sale of goodwill after dissolution. Rights of buyer and seller of goodwill. Agreements in restraint of trade
CHAPTER VII REGISTRATION OF FIRMS
- 56.Power to exempt from application of this Chapter
- 57.Appointment of Registrars
- 58.Application for registration
- 59.Registration
- 60.Recording of alterations in firm name and principal place of business
- 61.Noting of closing and opening of branches
- 62.Noting of changes in names and addresses of partners
- 63.Recording of changes in and dissolution of a firm. Recording of withdrawal of a minor
- 64.Rectification of mistakes
- 65.Amendment of Register by order of Court
- 66.Inspection of Register and filed documents
- 67.Grant of copies
- 68.Rules of evidence
- 69.Effect of non-registration
- 70.Penalty for furnishing false particulars
- 71.Power to make roles
CHAPTER VIII SUPPLEMENTAL
Schedules and appendices
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