Indian Partnership Act 1932
Indian Partnership Act
ACT NO. 9 OF 1932
[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 is hereby enacted as follows:–
CHAPTER I – Preliminary
Section 1 Indian Partnership Act – Short title, extent and commencement
Section 2 Indian Partnership Act – Definitions
Section 3 Indian Partnership Act – Application of provisions of Act 9 of 1872
CHAPTER II – The Nature Of Partnership
Section 4 Indian Partnership Act – Definition of “Partnership”, “Partner”, “Firm” arid “firm name”
Section 5 Indian Partnership Act – Partnership not created by status
Section 6 Indian Partnership Act – Mode of determining existence of partnership
Section 7 Indian Partnership Act – Partnership at will
Section 8 Indian Partnership Act – Particular partnership
CHAPTER III – Relations Of Partners To One Another
Section 9 Indian Partnership Act – General duties of partners .
Section 10 Indian Partnership Act – Duty to indemnify for loss caused by fraud
Section 11 Indian Partnership Act – Determination of rights and duties of partners by contract between the partners.
Section 12 Indian Partnership Act – The conduct of the business
Section 13 Indian Partnership Act – Mutual rights and liabilities
Section 14 Indian Partnership Act – The property of the firm
Section 15 Indian Partnership Act – Application of the property of the firm
Section 16 Indian Partnership Act – Personal profits named by partners
Section 17 Indian Partnership Act – Rights and duties of partners
CHAPTER IV – Relation Of Partners To Third Parties
Section 18 Indian Partnership Act – Partners to be agent of the firms
Section 19 Indian Partnership Act – Implied authority of partner as agent of the firm
Section 20 Indian Partnership Act – Extension and restriction of partner’s implied authority
Section 21 Indian Partnership Act – Partner’s authority in an emergency
Section 22 Indian Partnership Act – Mode of doing act to bind firm
Section 23 Indian Partnership Act – Effect of admissions by a partner
Section 24 Indian Partnership Act – Effect of notice to acting partner
Section 25 Indian Partnership Act – Liability of a partner for acts of the firm
Section 26 Indian Partnership Act – Liability of the firm for wrongful acts of a partner.
Section 27 Indian Partnership Act – Liability of firm for misapplication by partners
Section 28 Indian Partnership Act – Holding out
Section 29 Indian Partnership Act – Rights of transferee of a partner’s interest
Section 30 Indian Partnership Act – Minors admitted to the benefits of partnership.
CHAPTER V – Incoming And Outgoing Partners
Section 31 Indian Partnership Act – Introduction of a partner
Section 32 Indian Partnership Act – Retirement of a partner
Section 33 Indian Partnership Act – Expulsion of a partner
Section 34 Indian Partnership Act – Insolvency a partner
Section 35 Indian Partnership Act – Liability of estate of deceased partner
Section 36 Indian Partnership Act – Rights of outgoing partner to carry on competing busine
Section 37 Indian Partnership Act – Right of outgoing partner in certain cases to share subsequent profits
Section 38 Indian Partnership Act – Revocation of continuing guarantee by change in firm
CHAPTER VI – Dissolution of A Firm
Section 39 Indian Partnership Act – Dissolution of firm
Section 40 Indian Partnership Act – Dissolution by agreement
Section 41 Indian Partnership Act – Compulsory dissolution
Section 42 Indian Partnership Act – Dissolution on the happening of certain contingencies
Section 43 Indian Partnership Act – Dissolution by notice of partnership at wil
Section 44 Indian Partnership Act – Dissolution by the Court
Section 45 Indian Partnership Act – Liability for acts of partners done after dissolution
Section 46 Indian Partnership Act – Right of partners to have business wound up after 10 dissolution
Section 47 Indian Partnership Act – Continuing authority of partners for purposes of winding up
Section 48 Indian Partnership Act – Mode of settlement of accounts between partners
Section 49 Indian Partnership Act – Payment of firm debts and of separate debts.
Section 50 Indian Partnership Act – Personal profits earned after dissolution
Section 51 Indian Partnership Act – Return of premium on premature dissolution
Section 52 Indian Partnership Act – Rights where partnership contract is rescinded for fraud or misrepresentation
Section 53 Indian Partnership Act – Rights to restrain from use of firm name or firm property
Section 54 Indian Partnership Act – Agreements in restraint of trade
Section 55 Indian Partnership Act – Sale of good will after dissolution
CHAPTER VII – Registration Of Firms
Section 56 Indian Partnership Act – Power to exempt from application of this Chapter
Section 57 Indian Partnership Act – Appointment of Registrar
Section 58 Indian Partnership Act – Application of registration
Section 59 Indian Partnership Act – Registration
Section 60 Indian Partnership Act – Recording of alterations in firm name and principal place of business.
Section 61 Indian Partnership Act – Noting of closing and’opening of branches
Section 62 Indian Partnership Act – Noting of changes in names and addresses of partners
Section 63 Indian Partnership Act – Recording of changes in and dissolution of a firm
Section 64 Indian Partnership Act – Rectification of mistakes
Section 65 Indian Partnership Act – Amendment of Register by order of court
Section 66 Indian Partnership Act – Inspection of Register and filed documents
Section 67 Indian Partnership Act – Grant of copies
Section 68 Indian Partnership Act – Rules of evidence
Section 69 Indian Partnership Act – Effect of non- registration
Section 70 Indian Partnership Act – Penalty for furnishing of false particulars
Section 71 Indian Partnership Act – Power to make rules
CHAPTER VIII – Supplemental
Section 72 Indian Partnership Act – Mode of giving public notice
Section 73 Indian Partnership Act – [Repeals]
Section 74 Indian Partnership Act – Saving
See also: Indian Constitution 1949
– Indian Penal Code 1860 (S. 1-267)
– Indian Penal Code 1860 (S. 268-511)