Category: Indian Partnership Act
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Duties and Rights of Partners
The Indian Partnership Act, 1932 contains provisions that govern the relation of partners to one another. The partners of a
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Registration of Partnership Firm
The Act does not make the registration of partnership firms compulsory in India nor does the Act impose any penalties
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Dissolution of Partnership Firm
When the partnership between all the partners of a firm is dissolved, then it is called dissolution of a firm.
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Outgoing Partner
‘Outgoing partner’ is the partner who is leaving the partnership firm. When the partner leaves the firm either due to
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Retirement of Partner (S.32 Indian Partnership Act, 1932)
‘Outgoing partner’ is the partner who is leaving the partnership firm. When the partner leaves the firm either due to
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Liability of Incoming Partner (S. 31 and S. 30(7) Indian Partnership Act, 1932)
Section 4 of the Partnership Act of India, of 1932 defines “Partnership” as “a relationship between individuals who agree to