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Partnership Firms

Home Acts & Rules Partnership Firms Act Indian Partnership Act, 1932 Chapters List This

Indian Partnership Act, 1932

Chapter: I
PRELIMINARY
Section 1 : Short title, extent and commencement
Section 2 : Definitions
Section 3 : Application of provisions of Act 9 of 1872
Chapter: II
THE NATURE OF PARTNERSHIP
Section 4 : Definitions of "partnership", "partner", "firm" and "firm name"
Section 5 : Partnership not created by status
Section 6 : Mode of determining existence of partnership
Section 7 : Partnership at will
Section 8 : Particular partnership
Chapter: III
RELATIONS OF PARTNERS TO ONE ANOTHER
Section 9 : General duties of partners
Section 10 : Duty to indemnify for loss caused by fraud
Section 11 : Determination of rights and duties of partners by contract between the partners
Section 12 : The conduct of the business
Section 13 : Mutual rights and liabilities
Section 14 : The property of the firm
Section 15 : Application of the property of the firm
Section 16 : Personal profits earned by partners
Section 17 : Rights and duties of partners after a change in the firm
Chapter: IV
RELATIONS OF PARTNERS TO THIRD PARTIES
Section 18 : Partner to be agent of the firm
Section 19 : Implied authority of partner as agent of the firm
Section 20 : Extension and restriction of partner's implied authority
Section 21 : Partner's authority in an emergency
Section 22 : Mode of doing act to bind firm
Section 23 : Effect of admissions by a partner
Section 24 : Effect of notice to acting partner
Section 25 : Liability of a partner for acts of the firm
Section 26 : Liability of the firm for wrongful acts of a partner
Section 27 : Liability of firm for misapplication by partners
Section 28 : Holding out
Section 29 : Rights of transferee of a partner's interest
Section 30 : Minors admitted to the benefits of partnership
Chapter: V
INCOMING AND OUTGOING PARTNERS
Section 31 : Introduction of a partner
Section 32 : Retirement of a partner
Section 33 : Expulsion of a partner
Section 34 : Insolvency of a partner
Section 35 : Liability of estate of deceased partner
Section 36 : Rights of outgoing partner to carry on competing business
Section 37 : Right of outgoing partner in certain cases to share subsequent profits
Section 38 : Revocation of continuing guarantee by change in firm
Chapter: VI
DISSOLUTION OF A FIRM
Section 39 : Dissolution of a firm
Section 40 : Dissolution by agreement
Section 41 : Compulsory dissolution
Section 42 : Dissolution on the happening of certain contingencies
Section 43 : Dissolution by notice of partnership at will
Section 44 : Dissolution by the court
Section 45 : Liability for acts of partners done after dissolution
Section 46 : Rights of partners to have business wound up after dissolution
Section 47 : Continuing authority of partners for purposes of winding up
Section 48 : Mode of settlement of accounts between partners
Section 49 : Payment of firm debts and of seprate debts
Section 50 : Personal profits earned after dissolution
Section 51 : Return of premium on premature dissolution
Section 52 : Rights where partnership contract is rescinded for fraud or misrepresentation
Section 53 : Right to restrain from use of firm name or firm property
Section 54 : Agreements in restraint of trade
Section 55 : Sale of goodwill after dissolution
Chapter: VII
REGISTRATION OF FIRMS
Section 56 : Power to exempt from application of this Chapter
Section 57 : Appointment of Registrars
Section 58 : Application for registration
Section 59 : Registration
Section 60 : Recording of alterations in firm name and principal place of business
Section 61 : Noting of closing and opening of branches
Section 62 : Noting of changes in names and addresses of partners
Section 63 : Recording of changes in and dissolution of a firm
Section 64 : Rectification of mistakes
Section 65 : Amendment of Register by order of Court
Section 66 : Inspection of Register and filed documents
Section 67 : Grant of copies
Section 68 : Rules of evidence
Section 69 : Effect of non-registration
Section 70 : Penalty for furnishing false particulars
Section 71 : Power to make rules
Chapter: VIII
SUPPLEMENTAL
Section 72 : Mode of giving public notice
Section 73 : Omitted
Section 74 : Savings
SCHEDULE I  : MAXIMUM FEES
 
 
 

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