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CHAPTER I: PRELIMINARY

1. Short title, extent and commencement
(1) This Act may be called the Indian Partnership Act, 1932.

1[(2) It extends to the whole of India 2[except the State of Jammu and Kashmir].]

(3) It shall come into force on the lst day of October, 1932, except section 69, which shall come into force on the lst day of October, 1933.

2. Definitions
In this Act, unless there is anything repugnant in the subject or context,-

(a) an "act of a firm" means any act or omission by all the partners, or by any partner or agent of the firm which gives rise to a right enforceable by or against the firm;

(b) "business" includes every trade, occupation and profession;

(c) "prescribed" means prescribed by rules made under this Act;

(d) "third party" used in relation to a firm or to a partner therein means any person who is not a partner in the firm; and

(e) expressions used but not defined in this Act and defined in the Indian Contract Act, 1872 (9 of 1872), shall have the meanings assigned to them in that Act.

3. Application of provisions of Act 9 of 1872
The unrepealed provisions of the Indian Contract Act, 1872, save in so far as they are inconsistent with the express provisions of this Act, shall continue to apply to firms.

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Indian Partnership Act, 1932

[Act No. 9 of Year 1932, dated 8th. April, 1932]

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: -

CHAPTER I: PRELIMINARY

1. Short title, extent and commencement
(1) This Act may be called the Indian Partnership Act, 1932.

1[(2) It extends to the whole of India 2[except the State of Jammu and Kashmir].]

(3) It shall come into force on the lst day of October, 1932, except section 69, which shall come into force on the lst day of October, 1933.

2. Definitions
In this Act, unless there is anything repugnant in the subject or context,-

(a) an "act of a firm" means any act or omission by all the partners, or by any partner or agent of the firm which gives rise to a right enforceable by or against the firm;

(b) "business" includes every trade, occupation and profession;

(c) "prescribed" means prescribed by rules made under this Act;

(d) "third party" used in relation to a firm or to a partner therein means any person who is not a partner in the firm; and

(e) expressions used but not defined in this Act and defined in the Indian Contract Act, 1872 (9 of 1872), shall have the meanings assigned to them in that Act.

3. Application of provisions of Act 9 of 1872
The unrepealed provisions of the Indian Contract Act, 1872, save in so far as they are inconsistent with the express provisions of this Act, shall continue to apply to firms.

1 Substituted by AO 1950 for the former sub-section.

2 Substituted for words "except Part B States" by Act No. 3 of 1951.

NEWS BARE ACTS JUDICIARY CIVIL SERVICES JRF/NET G.S OPPORTUNITIES JOBS L J BLOG CLAT HUMOUR

Indian Partnership Act, 1932

[Act No. 9 of Year 1932, dated 8th. April, 1932]

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: -

CHAPTER I: PRELIMINARY

1. Short title, extent and commencement (1) This Act may be called the Indian Partnership Act, 1932.

1[(2) It extends to the whole of India 2[except the State of Jammu and Kashmir].]

(3) It shall come into force on the lst day of October, 1932, except section 69, which shall come into force on the lst day of October, 1933.

2. Definitions In this Act, unless there is anything repugnant in the subject or context,-

(a) an "act of a firm" means any act or omission by all the partners, or by any partner or agent of the firm which gives rise to a right enforceable by or against the firm;

(b) "business" includes every trade, occupation and profession;

(c) "prescribed" means prescribed by rules made under this Act;

(d) "third party" used in relation to a firm or to a partner therein means any person who is not a partner in the firm; and

(e) expressions used but not defined in this Act and defined in the Indian Contract Act, 1872 (9 of 1872), shall have the meanings assigned to them in that Act.

3. Application of provisions of Act 9 of 1872 The unrepealed provisions of the Indian Contract Act, 1872, save in so far as they are inconsistent with the express provisions of this Act, shall continue to apply to firms.

1 Substituted by AO 1950 for the former sub-section.

2 Substituted for words "except Part B States" by Act No. 3 of 1951.

1. Short title, extent and commencement
(1) This Act may be called the Indian Partnership Act, 1932.

2. Definitions
In this Act, unless there is anything repugnant in the subject or context,-

3. Application of provisions of Act 9 of 1872
The unrepealed provisions of the Indian Contract Act, 1872, save in so far as they are inconsistent with the express provisions of this Act, shall continue to apply to firms.