Indian Partnership Act, 1932

By Trademark Bazaar - 19th September 2017

Indian Partnership Act, 1932

This article is related to the Indian Partnership Act 1932.

The Partnership Act 2013 defines and amends the laws relating to partnership. This act was enacted in 1932 and came into force on 1October 1932. This act extends to all whole of India except the states of Jammu and Kashmir.

As per the Indian partnership ACT 1932, Partnership is an association of two or more persons who have agreed to come together to carry out a business and who have agreed to share the profits carried on by all or any of them acting for all. The liability of the members of the partnership firm is unlimited. Further, a partnership firm is governed by the partnership agreement between the members.  

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