Category: India


  • Section 41 Indian Partnership Act Section 41 of the Indian Partnership Act 1932 is about Compulsory dissolution. It is under CHAPTER VI (Dissolution of A Firm) of the Act. Compulsory dissolution. A firm is dissolved– (a) by the adjudication of all the partners or of all the partners but one as insolvent, or (b) by the happening of…

  • Section 40 Indian Partnership Act Section 40 of the Indian Partnership Act 1932 is about Dissolution by agreement. It is under CHAPTER VI (Dissolution of A Firm) of the Act. Dissolution by agreement. A firm may be dissolved with the consent of all the partners or in accordance with a contract between the partners.

  • Section 39 Indian Partnership Act Section 39 of the Indian Partnership Act 1932 is about Dissolution of a firm. It is under CHAPTER VI (Dissolution of A Firm) of the Act. Dissolution of a firm. The dissolution of partnership between all the partners of a firm is called the dissolution of the firm.

  • Section 38 Indian Partnership Act Section 38 of the Indian Partnership Act 1932 is about Revocation of continuing guarantee by change in firm. It is under CHAPTER V (Incoming And Outgoing Partners) of the Act. Revocation of continuing guarantee by change in firm. A continuing guarantee given to a firm, or to a third party in respect of…

  • Section 37 Indian Partnership Act Section 37 of the Indian Partnership Act 1932 is about Right of outgoing partner in certain cases to share subsequent profits. It is under CHAPTER V (Incoming And Outgoing Partners) of the Act. Right of outgoing partner in certain cases to share subsequent profits Where any member of a firm has died or…

  • Section 36 Indian Partnership Act Section 31 of the Indian Partnership Act 1932 is about Rights of outgoing partner to carry on competing business. It is under CHAPTER V (Incoming And Outgoing Partners) of the Act. Rights of outgoing partner to carry on competing business. (1) An outgoing partner may carry on a business competing with that of…

  • Section 35 Indian Partnership Act Section 35 of the Indian Partnership Act 1932 is about Liability of estate of deceased partner. It is under CHAPTER V (Incoming And Outgoing Partners) of the Act. Liability of estate of deceased partner. Where under a contract between the partners the firm is not dissolved by the death of a partner, the…

  • Section 34 Indian Partnership Act Section 34 of the Indian Partnership Act 1932 is about Insolvency of a partner. It is under CHAPTER V (Incoming And Outgoing Partners) of the Act.  Insolvency of a partner (1) Where a partner in a firm is adjudicated an insolvent he ceases to be a partner on the date on which the…

  • Section 33 Indian Partnership Act Section 33 of the Indian Partnership Act 1932 is about Expulsion of a partner. It is under CHAPTER V (Incoming And Outgoing Partners) of the Act. Expulsion of a partner. (1) A partner may not be expelled from a firm by any majority of the partners, save in the exercise in good faith…

  • Section 32 Indian Partnership Act Section 32 of the Indian Partnership Act 1932 is about Retirement of a partner. It is under CHAPTER V (Incoming And Outgoing Partners) of the Act. Retirement of a partner. (1) A partner may retire– (a) with the consent of all the other partners, (b) in accordance with an express agreement by the…