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The Partnership Act, 1932

( ACT NO. IX OF 1932 )

Chapter V

INCOMING AND OUTGOING PARTNERS

Revocation of continuing guarantee by change in firm
38. A continuing guarantee given to a firm, or to a third party in respect of the transactions of a firm, is, in the absence of agreement to the contrary, revoked as to future transactions from the date of any change in the constitution of the firm.

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