INDIAN PARTNERSHIP ACT, 1932
Year : 1932
Act : 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 unrepeated 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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