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THE PARTNERSHIP ACT, 1932

(ACT NO. IX OF 1932).
  Part No : Chapter No : Section No: [ 8th April, 1932  
  
     1 An Act to define and amend the law relating to partnership.
 
    WHEREAS it is expedient to define and amend the law relating to partnership:

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

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Ministry of Law, Justice and Parliamentary Affairs