Indian Partnership Act 1932
E948542
The Indian Partnership Act 1932 is a key commercial law in India that defines and regulates the formation, rights, duties, and dissolution of partnerships engaged in business.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Indian Partnership Act 1932 canonical | 1 |
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
Act of Parliament of India
ⓘ
Indian statute ⓘ business law ⓘ commercial law ⓘ |
| appliesTo | partnerships formed for profit ⓘ |
| basisOfLiability | joint and several liability of partners ⓘ |
| citationStyle | Indian Partnership Act, 1932 NERFINISHED ⓘ |
| country | India ⓘ |
| defines |
firm
ⓘ
firm name ⓘ partner ⓘ partnership ⓘ |
| doesNotApplyTo |
Hindu Undivided Family carrying on family business
ⓘ
association not formed for profit (to the extent governed by other laws) ⓘ |
| extendsTo | whole of India except the State of Jammu and Kashmir (originally) ⓘ |
| fieldOfLaw | business and commercial law in India ⓘ |
| governs | partnership firms in India ⓘ |
| influencedBy | English law of partnership ⓘ |
| keySection |
Section 13 (mutual rights and liabilities)
ⓘ
Section 25 (liability of a partner for acts of the firm) ⓘ Section 32 (retirement of a partner) ⓘ Section 39 (dissolution of a firm) ⓘ Section 4 (definition of partnership) ⓘ Section 42 (dissolution on the happening of certain contingencies) ⓘ Section 44 (dissolution by the court) ⓘ Section 6 (mode of determining existence of partnership) ⓘ Section 69 (effect of non‑registration) ⓘ Section 9 (general duties of partners) ⓘ |
| legalConcept | partnership based on contract ⓘ |
| legalSystem | common law ⓘ |
| legislature | Imperial Legislative Council NERFINISHED ⓘ |
| providesFor |
dissolution of firms
ⓘ
liability of partners after dissolution ⓘ registration of partnership firms ⓘ settlement of accounts after dissolution ⓘ |
| regulates |
conduct of business of the firm
ⓘ
relations of partners to one another ⓘ relations of partners to third parties ⓘ |
| replaced | provisions relating to partnership in the Indian Contract Act, 1872 ⓘ |
| requires | agreement between persons to form partnership ⓘ |
| shortTitle | Indian Partnership Act, 1932 NERFINISHED ⓘ |
| subjectMatter |
dissolution of partnership
ⓘ
duties of partners ⓘ formation of partnerships ⓘ liabilities of partners ⓘ partnerships ⓘ registration of firms ⓘ rights of partners ⓘ |
| yearOfEnactment | 1932 ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.