The document defines a partnership under Indian law as a relationship between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. It outlines the essential elements of a partnership including a contract between two or more persons to carry on business with the objective of sharing profits. It describes the two main kinds of partnerships - partnership at will which has no fixed term, and particular partnership which is formed for a specific period or venture. Rights of partners, admission and retirement of partners, and dissolution of a partnership are also summarized. Key points around insolvency, death, and expulsion of a partner are provided at a high level.