SlideShare a Scribd company logo
Indian partnership act ,1932
Mutual rights of partners
1.Right to take the part in the conduct of the business.
2.Right to be consulted.
3.Right to access the books.
4.Right to share the profits.
5.Right to interest on capital.
6.Right to interest on advance.
7.Right to indemnity.
Duties of partners
Absolute duties
1.Duty to carry on the business to greatest common
advantage
2.Duty to be just and faithful inter-se
3.Duty to render true accounts
4.Duty to provide the information.
5.Duty to indemnify for loss caused by fraud.
6.Duty to be liable jointly and severally.
7.Duty not to assign his interest.
Qualified duties
1.Duty to attend diligently to his duties.
2.Duty to work without remuneration.
3.Duty to contribute the losses.
4.Duty to indemnify for willful neglect.
5.Duty to use firm’s property exclusively for the firm.
6.Duty to account for personal profit.
7.Duty to not compete with his business of the firm.
Kinds of partners
1.Active or actual partner
2.Sleeping or dormant partner
3.Nominal partner
4.Partner in profit only (minor)
5.Partner by estoppel or holding out.
Dissolution of firm
1.Dissolution by agreement: A firm may be dissolved
with the consent of all the partners or accordance with
the contract b/w the partners.Partnership created by
contract,It can also be terminated by contract.
2.By notice: Where the partnership is at will,the firm
may be dissolved by any partner giving notice in
writing to all partners of his intention to dissolve
it.Notice is once given cannot be withdrawn without
consent of partners.
3.On the happening of certain contigencies:
1.If constituted for fixed term,by expiry of that firm.
2.If constituted to carry out one or more adventurous
or undertakings.by the completion of thereof.
3.By death of partner
4.Abjudicate of partner is insolvent.
4.Compulsory dissolution:
1.Insolvent
2.unlawful
5.Dissolution by court:
a. Insane of partner
b. Permanent incapacity of partner
c. Misconduct of partner
d. Persisitent breach of agreement
e. Transfer of interest
f. Continous losses
g. Just and equitable
Thank
you

More Related Content

What's hot

Unit 2 indian partnership act 1932
Unit 2 indian partnership act 1932Unit 2 indian partnership act 1932
Unit 2 indian partnership act 1932
Ramya Raman
 
Partnership act
Partnership actPartnership act
Partnership act
madhvih
 
Indian partnership act 1932
Indian partnership act 1932Indian partnership act 1932
Indian partnership act 1932
prateekcal
 
Dissolution and registration of partnership firm
Dissolution and registration of partnership firmDissolution and registration of partnership firm
Dissolution and registration of partnership firm
Sneha Ravindra
 
Indian Partnership Act 1932
Indian Partnership Act 1932 Indian Partnership Act 1932
Indian Partnership Act 1932
Dr.Aravind TS
 
Contracts of Partnership
Contracts of PartnershipContracts of Partnership
Contracts of Partnership
Kapil Chawla
 
Indian partnership act 1932
Indian partnership act 1932Indian partnership act 1932
Indian partnership act 1932
VijayaBhaskaraDurga Kasireddy
 
Patnership act
Patnership act Patnership act
Patnership act
mafiavish
 
Law+Of+Partnership
Law+Of+PartnershipLaw+Of+Partnership
Law+Of+Partnership
varun23oct
 
Formation, Deed, Registration OF PARTNERSHIP
Formation, Deed, Registration OF PARTNERSHIPFormation, Deed, Registration OF PARTNERSHIP
Formation, Deed, Registration OF PARTNERSHIP
SUBROTOACADEMICS
 
Indian Partnership Act, 1932
Indian Partnership Act, 1932Indian Partnership Act, 1932
Indian Partnership Act, 1932
Abhishek Anand
 
Indian partnership act 1932
Indian partnership act 1932 Indian partnership act 1932
Indian partnership act 1932
Anil Dhankhar
 
Indian Partnership Act 1932
Indian Partnership Act 1932Indian Partnership Act 1932
Indian Partnership Act 1932
Ajilal
 
Indian partnership act
Indian partnership act Indian partnership act
Indian partnership act
rastogiaastha
 
Partnership Act
Partnership ActPartnership Act
Partnership Act
ashutoshpratap
 
Theindianpartnershipact1932 120305114812-phpapp02 (1)
Theindianpartnershipact1932 120305114812-phpapp02 (1)Theindianpartnershipact1932 120305114812-phpapp02 (1)
Theindianpartnershipact1932 120305114812-phpapp02 (1)
jyotithakur487
 
Law partnership, partner (7)
Law partnership, partner (7)Law partnership, partner (7)
Law partnership, partner (7)
badsharc
 
Indian partnership act
Indian partnership act Indian partnership act
Indian partnership act
jeshin jose
 
Indian Partnership Act
Indian Partnership ActIndian Partnership Act
Indian Partnership Act
Dr. Trilok Kumar Jain
 
Incoming & outgoing of partner
Incoming & outgoing of partnerIncoming & outgoing of partner
Incoming & outgoing of partner
Deepshikha Sharma
 

What's hot (20)

Unit 2 indian partnership act 1932
Unit 2 indian partnership act 1932Unit 2 indian partnership act 1932
Unit 2 indian partnership act 1932
 
Partnership act
Partnership actPartnership act
Partnership act
 
Indian partnership act 1932
Indian partnership act 1932Indian partnership act 1932
Indian partnership act 1932
 
Dissolution and registration of partnership firm
Dissolution and registration of partnership firmDissolution and registration of partnership firm
Dissolution and registration of partnership firm
 
Indian Partnership Act 1932
Indian Partnership Act 1932 Indian Partnership Act 1932
Indian Partnership Act 1932
 
Contracts of Partnership
Contracts of PartnershipContracts of Partnership
Contracts of Partnership
 
Indian partnership act 1932
Indian partnership act 1932Indian partnership act 1932
Indian partnership act 1932
 
Patnership act
Patnership act Patnership act
Patnership act
 
Law+Of+Partnership
Law+Of+PartnershipLaw+Of+Partnership
Law+Of+Partnership
 
Formation, Deed, Registration OF PARTNERSHIP
Formation, Deed, Registration OF PARTNERSHIPFormation, Deed, Registration OF PARTNERSHIP
Formation, Deed, Registration OF PARTNERSHIP
 
Indian Partnership Act, 1932
Indian Partnership Act, 1932Indian Partnership Act, 1932
Indian Partnership Act, 1932
 
Indian partnership act 1932
Indian partnership act 1932 Indian partnership act 1932
Indian partnership act 1932
 
Indian Partnership Act 1932
Indian Partnership Act 1932Indian Partnership Act 1932
Indian Partnership Act 1932
 
Indian partnership act
Indian partnership act Indian partnership act
Indian partnership act
 
Partnership Act
Partnership ActPartnership Act
Partnership Act
 
Theindianpartnershipact1932 120305114812-phpapp02 (1)
Theindianpartnershipact1932 120305114812-phpapp02 (1)Theindianpartnershipact1932 120305114812-phpapp02 (1)
Theindianpartnershipact1932 120305114812-phpapp02 (1)
 
Law partnership, partner (7)
Law partnership, partner (7)Law partnership, partner (7)
Law partnership, partner (7)
 
Indian partnership act
Indian partnership act Indian partnership act
Indian partnership act
 
Indian Partnership Act
Indian Partnership ActIndian Partnership Act
Indian Partnership Act
 
Incoming & outgoing of partner
Incoming & outgoing of partnerIncoming & outgoing of partner
Incoming & outgoing of partner
 

Viewers also liked

Partnership presentation
Partnership presentationPartnership presentation
Partnership presentation
email2neev
 
Partnership act 1932
Partnership act 1932Partnership act 1932
Partnership act 1932
Mohammed Haroon
 
partnership act
partnership actpartnership act
Contract act 1872
Contract act 1872Contract act 1872
Contract act 1872
butlu
 
Indian partnership act, 1932
Indian partnership act, 1932Indian partnership act, 1932
Indian partnership act, 1932
Manish Kaushik
 
Upload
UploadUpload
Upload
Saad Ahmed
 
Partnership Act 1932
Partnership Act 1932Partnership Act 1932
Partnership Act 1932
Dr.Aravind TS
 
partnership
 partnership partnership
partnership
school teaching
 
Partnership
PartnershipPartnership
Partnership
Pimsat University
 
Partnership Act
Partnership ActPartnership Act
Partnership Act
Namrata Kumari
 
Indian partnership act 1932
Indian partnership act 1932Indian partnership act 1932
Indian partnership act 1932
Prithvi Ghag
 
Difference between company and partnership
Difference between company and partnershipDifference between company and partnership
Difference between company and partnership
Tania Goel
 

Viewers also liked (12)

Partnership presentation
Partnership presentationPartnership presentation
Partnership presentation
 
Partnership act 1932
Partnership act 1932Partnership act 1932
Partnership act 1932
 
partnership act
partnership actpartnership act
partnership act
 
Contract act 1872
Contract act 1872Contract act 1872
Contract act 1872
 
Indian partnership act, 1932
Indian partnership act, 1932Indian partnership act, 1932
Indian partnership act, 1932
 
Upload
UploadUpload
Upload
 
Partnership Act 1932
Partnership Act 1932Partnership Act 1932
Partnership Act 1932
 
partnership
 partnership partnership
partnership
 
Partnership
PartnershipPartnership
Partnership
 
Partnership Act
Partnership ActPartnership Act
Partnership Act
 
Indian partnership act 1932
Indian partnership act 1932Indian partnership act 1932
Indian partnership act 1932
 
Difference between company and partnership
Difference between company and partnershipDifference between company and partnership
Difference between company and partnership
 

Similar to Partnership act 1932

law of partnersd.pptx
law of partnersd.pptxlaw of partnersd.pptx
law of partnersd.pptx
BaivabKashyap1
 
Business law ppt
Business law pptBusiness law ppt
Business law ppt
JahidHussain13
 
partnershipact.pptx
partnershipact.pptxpartnershipact.pptx
partnershipact.pptx
AditiGuleria6
 
Rights ,duties and liabilities of partners in partnership
Rights ,duties and liabilities of partners in partnershipRights ,duties and liabilities of partners in partnership
Rights ,duties and liabilities of partners in partnership
shivanitiwary
 
Partnership act
Partnership  actPartnership  act
Partnership act
Moazzam Habib
 
Types of partners, partnership deed & registration of partnersip firm
Types of partners, partnership deed & registration of partnersip firmTypes of partners, partnership deed & registration of partnersip firm
Types of partners, partnership deed & registration of partnersip firm
Puneet Gupta
 
Partnership act,1932
Partnership act,1932Partnership act,1932
Partnership act,1932
Divya Sharma
 
Partnership hemant 2
Partnership hemant 2Partnership hemant 2
Partnership hemant 2
golubatham
 
Rights and Liabilities of Parties
Rights and Liabilities of PartiesRights and Liabilities of Parties
Rights and Liabilities of Parties
Joyanta Kumar Paul
 
Partnerships.pptx
Partnerships.pptxPartnerships.pptx
Partnerships.pptx
ssuser46cec6
 
Partnership act 1932
Partnership act 1932Partnership act 1932
Partnership act 1932
Renjini2014
 
partnership act 1932
partnership act 1932partnership act 1932
partnership act 1932
Akhilesh Krishnan
 
Partnership
PartnershipPartnership
Partnership
muhammad shoaib
 
Partnership
PartnershipPartnership
Partnership
cooldeep22
 
Indian Partnership Act 1932, Rights and Duties of Partners
Indian Partnership Act 1932, Rights and Duties of PartnersIndian Partnership Act 1932, Rights and Duties of Partners
Indian Partnership Act 1932, Rights and Duties of Partners
shrishtijain1809
 
law of partnership in paksitan
law of partnership in paksitanlaw of partnership in paksitan
law of partnership in paksitan
laibamukhtar1
 
Indian partnership act
Indian partnership actIndian partnership act
Indian partnership act
AJAY NATH DUBEY
 
PartnershipAct1932.pdf
PartnershipAct1932.pdfPartnershipAct1932.pdf
PartnershipAct1932.pdf
Manickam Gajapathy
 
PartnershipAct1932 (1) business law unit 2.pdf
PartnershipAct1932 (1) business law unit 2.pdfPartnershipAct1932 (1) business law unit 2.pdf
PartnershipAct1932 (1) business law unit 2.pdf
technicalclips
 
dissolution of partnership firm
dissolution of partnership firmdissolution of partnership firm
dissolution of partnership firm
Aditya Kumar
 

Similar to Partnership act 1932 (20)

law of partnersd.pptx
law of partnersd.pptxlaw of partnersd.pptx
law of partnersd.pptx
 
Business law ppt
Business law pptBusiness law ppt
Business law ppt
 
partnershipact.pptx
partnershipact.pptxpartnershipact.pptx
partnershipact.pptx
 
Rights ,duties and liabilities of partners in partnership
Rights ,duties and liabilities of partners in partnershipRights ,duties and liabilities of partners in partnership
Rights ,duties and liabilities of partners in partnership
 
Partnership act
Partnership  actPartnership  act
Partnership act
 
Types of partners, partnership deed & registration of partnersip firm
Types of partners, partnership deed & registration of partnersip firmTypes of partners, partnership deed & registration of partnersip firm
Types of partners, partnership deed & registration of partnersip firm
 
Partnership act,1932
Partnership act,1932Partnership act,1932
Partnership act,1932
 
Partnership hemant 2
Partnership hemant 2Partnership hemant 2
Partnership hemant 2
 
Rights and Liabilities of Parties
Rights and Liabilities of PartiesRights and Liabilities of Parties
Rights and Liabilities of Parties
 
Partnerships.pptx
Partnerships.pptxPartnerships.pptx
Partnerships.pptx
 
Partnership act 1932
Partnership act 1932Partnership act 1932
Partnership act 1932
 
partnership act 1932
partnership act 1932partnership act 1932
partnership act 1932
 
Partnership
PartnershipPartnership
Partnership
 
Partnership
PartnershipPartnership
Partnership
 
Indian Partnership Act 1932, Rights and Duties of Partners
Indian Partnership Act 1932, Rights and Duties of PartnersIndian Partnership Act 1932, Rights and Duties of Partners
Indian Partnership Act 1932, Rights and Duties of Partners
 
law of partnership in paksitan
law of partnership in paksitanlaw of partnership in paksitan
law of partnership in paksitan
 
Indian partnership act
Indian partnership actIndian partnership act
Indian partnership act
 
PartnershipAct1932.pdf
PartnershipAct1932.pdfPartnershipAct1932.pdf
PartnershipAct1932.pdf
 
PartnershipAct1932 (1) business law unit 2.pdf
PartnershipAct1932 (1) business law unit 2.pdfPartnershipAct1932 (1) business law unit 2.pdf
PartnershipAct1932 (1) business law unit 2.pdf
 
dissolution of partnership firm
dissolution of partnership firmdissolution of partnership firm
dissolution of partnership firm
 

Recently uploaded

V.-SENTHIL-BALAJI-SLP-C-8939-8940-2023-SC-Judgment-07-August-2023.pdf
V.-SENTHIL-BALAJI-SLP-C-8939-8940-2023-SC-Judgment-07-August-2023.pdfV.-SENTHIL-BALAJI-SLP-C-8939-8940-2023-SC-Judgment-07-August-2023.pdf
V.-SENTHIL-BALAJI-SLP-C-8939-8940-2023-SC-Judgment-07-August-2023.pdf
bhavenpr
 
Pedal to the Court Understanding Your Rights after a Cycling Collision.pdf
Pedal to the Court Understanding Your Rights after a Cycling Collision.pdfPedal to the Court Understanding Your Rights after a Cycling Collision.pdf
Pedal to the Court Understanding Your Rights after a Cycling Collision.pdf
SunsetWestLegalGroup
 
Search Warrants for NH Law Enforcement Officers
Search Warrants for NH Law Enforcement OfficersSearch Warrants for NH Law Enforcement Officers
Search Warrants for NH Law Enforcement Officers
RichardTheberge
 
The Work Permit for Self-Employed Persons in Italy
The Work Permit for Self-Employed Persons in ItalyThe Work Permit for Self-Employed Persons in Italy
The Work Permit for Self-Employed Persons in Italy
BridgeWest.eu
 
PPT-Money Laundering - lecture 5.pptx ll
PPT-Money Laundering - lecture 5.pptx llPPT-Money Laundering - lecture 5.pptx ll
PPT-Money Laundering - lecture 5.pptx ll
MohammadZubair874462
 
From Promise to Practice. Implementing AI in Legal Environments
From Promise to Practice. Implementing AI in Legal EnvironmentsFrom Promise to Practice. Implementing AI in Legal Environments
From Promise to Practice. Implementing AI in Legal Environments
ssusera97a2f
 
AN INTRODUCTION TO PUBLIC ADMINISTRATION.pptx
AN INTRODUCTION TO PUBLIC ADMINISTRATION.pptxAN INTRODUCTION TO PUBLIC ADMINISTRATION.pptx
AN INTRODUCTION TO PUBLIC ADMINISTRATION.pptx
schubergbestrong
 
The Future of Criminal Defense Lawyer in India.pdf
The Future of Criminal Defense Lawyer in India.pdfThe Future of Criminal Defense Lawyer in India.pdf
The Future of Criminal Defense Lawyer in India.pdf
veteranlegal
 
原版定做(sheffield学位证书)英国谢菲尔德大学毕业证文凭证书原版一模一样
原版定做(sheffield学位证书)英国谢菲尔德大学毕业证文凭证书原版一模一样原版定做(sheffield学位证书)英国谢菲尔德大学毕业证文凭证书原版一模一样
原版定做(sheffield学位证书)英国谢菲尔德大学毕业证文凭证书原版一模一样
abondo3
 
Receivership and liquidation Accounts Prof. Oyedokun.pptx
Receivership and liquidation Accounts Prof. Oyedokun.pptxReceivership and liquidation Accounts Prof. Oyedokun.pptx
Receivership and liquidation Accounts Prof. Oyedokun.pptx
Godwin Emmanuel Oyedokun MBA MSc PhD FCA FCTI FCNA CFE FFAR
 
一比一原版(Lincoln毕业证)新西兰林肯大学毕业证如何办理
一比一原版(Lincoln毕业证)新西兰林肯大学毕业证如何办理一比一原版(Lincoln毕业证)新西兰林肯大学毕业证如何办理
一比一原版(Lincoln毕业证)新西兰林肯大学毕业证如何办理
gjsma0ep
 
Corporate Governance : Scope and Legal Framework
Corporate Governance : Scope and Legal FrameworkCorporate Governance : Scope and Legal Framework
Corporate Governance : Scope and Legal Framework
devaki57
 
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...
Sangyun Lee
 
Genocide in International Criminal Law.pptx
Genocide in International Criminal Law.pptxGenocide in International Criminal Law.pptx
Genocide in International Criminal Law.pptx
MasoudZamani13
 
原版制作(PSU毕业证书)宾州州立大学公园分校毕业证学历证书一模一样
原版制作(PSU毕业证书)宾州州立大学公园分校毕业证学历证书一模一样原版制作(PSU毕业证书)宾州州立大学公园分校毕业证学历证书一模一样
原版制作(PSU毕业证书)宾州州立大学公园分校毕业证学历证书一模一样
osenwakm
 
在线办理(SU毕业证书)美国雪城大学毕业证成绩单一模一样
在线办理(SU毕业证书)美国雪城大学毕业证成绩单一模一样在线办理(SU毕业证书)美国雪城大学毕业证成绩单一模一样
在线办理(SU毕业证书)美国雪城大学毕业证成绩单一模一样
osenwakm
 
快速办理(SCU毕业证书)澳洲南十字星大学毕业证文凭证书一模一样
快速办理(SCU毕业证书)澳洲南十字星大学毕业证文凭证书一模一样快速办理(SCU毕业证书)澳洲南十字星大学毕业证文凭证书一模一样
快速办理(SCU毕业证书)澳洲南十字星大学毕业证文凭证书一模一样
15e6o6u
 
San Remo Manual on International Law Applicable to Armed Conflict at Sea
San Remo Manual on International Law Applicable to Armed Conflict at SeaSan Remo Manual on International Law Applicable to Armed Conflict at Sea
San Remo Manual on International Law Applicable to Armed Conflict at Sea
Justin Ordoyo
 
Should AI hold Intellectual Property Rights?
Should AI hold Intellectual Property Rights?Should AI hold Intellectual Property Rights?
Should AI hold Intellectual Property Rights?
RoseZubler1
 
Integrating Advocacy and Legal Tactics to Tackle Online Consumer Complaints
Integrating Advocacy and Legal Tactics to Tackle Online Consumer ComplaintsIntegrating Advocacy and Legal Tactics to Tackle Online Consumer Complaints
Integrating Advocacy and Legal Tactics to Tackle Online Consumer Complaints
seoglobal20
 

Recently uploaded (20)

V.-SENTHIL-BALAJI-SLP-C-8939-8940-2023-SC-Judgment-07-August-2023.pdf
V.-SENTHIL-BALAJI-SLP-C-8939-8940-2023-SC-Judgment-07-August-2023.pdfV.-SENTHIL-BALAJI-SLP-C-8939-8940-2023-SC-Judgment-07-August-2023.pdf
V.-SENTHIL-BALAJI-SLP-C-8939-8940-2023-SC-Judgment-07-August-2023.pdf
 
Pedal to the Court Understanding Your Rights after a Cycling Collision.pdf
Pedal to the Court Understanding Your Rights after a Cycling Collision.pdfPedal to the Court Understanding Your Rights after a Cycling Collision.pdf
Pedal to the Court Understanding Your Rights after a Cycling Collision.pdf
 
Search Warrants for NH Law Enforcement Officers
Search Warrants for NH Law Enforcement OfficersSearch Warrants for NH Law Enforcement Officers
Search Warrants for NH Law Enforcement Officers
 
The Work Permit for Self-Employed Persons in Italy
The Work Permit for Self-Employed Persons in ItalyThe Work Permit for Self-Employed Persons in Italy
The Work Permit for Self-Employed Persons in Italy
 
PPT-Money Laundering - lecture 5.pptx ll
PPT-Money Laundering - lecture 5.pptx llPPT-Money Laundering - lecture 5.pptx ll
PPT-Money Laundering - lecture 5.pptx ll
 
From Promise to Practice. Implementing AI in Legal Environments
From Promise to Practice. Implementing AI in Legal EnvironmentsFrom Promise to Practice. Implementing AI in Legal Environments
From Promise to Practice. Implementing AI in Legal Environments
 
AN INTRODUCTION TO PUBLIC ADMINISTRATION.pptx
AN INTRODUCTION TO PUBLIC ADMINISTRATION.pptxAN INTRODUCTION TO PUBLIC ADMINISTRATION.pptx
AN INTRODUCTION TO PUBLIC ADMINISTRATION.pptx
 
The Future of Criminal Defense Lawyer in India.pdf
The Future of Criminal Defense Lawyer in India.pdfThe Future of Criminal Defense Lawyer in India.pdf
The Future of Criminal Defense Lawyer in India.pdf
 
原版定做(sheffield学位证书)英国谢菲尔德大学毕业证文凭证书原版一模一样
原版定做(sheffield学位证书)英国谢菲尔德大学毕业证文凭证书原版一模一样原版定做(sheffield学位证书)英国谢菲尔德大学毕业证文凭证书原版一模一样
原版定做(sheffield学位证书)英国谢菲尔德大学毕业证文凭证书原版一模一样
 
Receivership and liquidation Accounts Prof. Oyedokun.pptx
Receivership and liquidation Accounts Prof. Oyedokun.pptxReceivership and liquidation Accounts Prof. Oyedokun.pptx
Receivership and liquidation Accounts Prof. Oyedokun.pptx
 
一比一原版(Lincoln毕业证)新西兰林肯大学毕业证如何办理
一比一原版(Lincoln毕业证)新西兰林肯大学毕业证如何办理一比一原版(Lincoln毕业证)新西兰林肯大学毕业证如何办理
一比一原版(Lincoln毕业证)新西兰林肯大学毕业证如何办理
 
Corporate Governance : Scope and Legal Framework
Corporate Governance : Scope and Legal FrameworkCorporate Governance : Scope and Legal Framework
Corporate Governance : Scope and Legal Framework
 
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...
 
Genocide in International Criminal Law.pptx
Genocide in International Criminal Law.pptxGenocide in International Criminal Law.pptx
Genocide in International Criminal Law.pptx
 
原版制作(PSU毕业证书)宾州州立大学公园分校毕业证学历证书一模一样
原版制作(PSU毕业证书)宾州州立大学公园分校毕业证学历证书一模一样原版制作(PSU毕业证书)宾州州立大学公园分校毕业证学历证书一模一样
原版制作(PSU毕业证书)宾州州立大学公园分校毕业证学历证书一模一样
 
在线办理(SU毕业证书)美国雪城大学毕业证成绩单一模一样
在线办理(SU毕业证书)美国雪城大学毕业证成绩单一模一样在线办理(SU毕业证书)美国雪城大学毕业证成绩单一模一样
在线办理(SU毕业证书)美国雪城大学毕业证成绩单一模一样
 
快速办理(SCU毕业证书)澳洲南十字星大学毕业证文凭证书一模一样
快速办理(SCU毕业证书)澳洲南十字星大学毕业证文凭证书一模一样快速办理(SCU毕业证书)澳洲南十字星大学毕业证文凭证书一模一样
快速办理(SCU毕业证书)澳洲南十字星大学毕业证文凭证书一模一样
 
San Remo Manual on International Law Applicable to Armed Conflict at Sea
San Remo Manual on International Law Applicable to Armed Conflict at SeaSan Remo Manual on International Law Applicable to Armed Conflict at Sea
San Remo Manual on International Law Applicable to Armed Conflict at Sea
 
Should AI hold Intellectual Property Rights?
Should AI hold Intellectual Property Rights?Should AI hold Intellectual Property Rights?
Should AI hold Intellectual Property Rights?
 
Integrating Advocacy and Legal Tactics to Tackle Online Consumer Complaints
Integrating Advocacy and Legal Tactics to Tackle Online Consumer ComplaintsIntegrating Advocacy and Legal Tactics to Tackle Online Consumer Complaints
Integrating Advocacy and Legal Tactics to Tackle Online Consumer Complaints
 

Partnership act 1932

  • 2. Mutual rights of partners 1.Right to take the part in the conduct of the business. 2.Right to be consulted. 3.Right to access the books. 4.Right to share the profits.
  • 3. 5.Right to interest on capital. 6.Right to interest on advance. 7.Right to indemnity.
  • 4. Duties of partners Absolute duties 1.Duty to carry on the business to greatest common advantage 2.Duty to be just and faithful inter-se 3.Duty to render true accounts
  • 5. 4.Duty to provide the information. 5.Duty to indemnify for loss caused by fraud. 6.Duty to be liable jointly and severally. 7.Duty not to assign his interest.
  • 6. Qualified duties 1.Duty to attend diligently to his duties. 2.Duty to work without remuneration. 3.Duty to contribute the losses. 4.Duty to indemnify for willful neglect.
  • 7. 5.Duty to use firm’s property exclusively for the firm. 6.Duty to account for personal profit. 7.Duty to not compete with his business of the firm.
  • 8. Kinds of partners 1.Active or actual partner 2.Sleeping or dormant partner 3.Nominal partner 4.Partner in profit only (minor) 5.Partner by estoppel or holding out.
  • 9. Dissolution of firm 1.Dissolution by agreement: A firm may be dissolved with the consent of all the partners or accordance with the contract b/w the partners.Partnership created by contract,It can also be terminated by contract. 2.By notice: Where the partnership is at will,the firm may be dissolved by any partner giving notice in writing to all partners of his intention to dissolve it.Notice is once given cannot be withdrawn without consent of partners.
  • 10. 3.On the happening of certain contigencies: 1.If constituted for fixed term,by expiry of that firm. 2.If constituted to carry out one or more adventurous or undertakings.by the completion of thereof. 3.By death of partner 4.Abjudicate of partner is insolvent.
  • 12. 5.Dissolution by court: a. Insane of partner b. Permanent incapacity of partner c. Misconduct of partner d. Persisitent breach of agreement e. Transfer of interest f. Continous losses g. Just and equitable