The Indian Partnership Act, 1932

Act Description

An Act to define and amend the law relating to partnership.
WHEREAS it is expedient to define and amend the law relating to partnership;

Act Sections

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

Note: For Reference only. Source: https://indiacode.gov.in/