Partnership Act 1932
Desh Bhagat University
School Of law
Assignment On
The Indian Partnership Act,
1932
Submitted to – Prof. Inderpreet kaur
Submitted by – Digvijay Moudgill
Roll No. – 5036
L.L.B 3 yearly
Introduction Topic
•
One of the most forms in which business can be carried on is “Partnership”, where two or more persons join together to for the partnership and run the business. In order to govern and guide partnership , The Indian
Partnership Act, 1932 was enacted
•
Since public at large would be dealing with the partnership as customer’s, suppliers, creditor’s, employees or any other capacity. In is also very important to know the legal consequences of their transaction and other action in relation with the partnership. The Indian Partnership Act,
1932
• The law relating to partnership was in section 239 to 266 of the Indian Contract Act, 1872. These sections have been replaced to other Act named Indian Partnership Act
• It came into the force on 1st October, 1932, except section 69 which came into force one year later
• This act is specially meant for governing business of partnership in India. The act mainly contains necessary provisions relating to the formation of the partnership, the rights, duties and liabilities of partner’s and the procedure of its dissolution.
Feature’s Of Partnership
Act 1932
• Indian Partnership Act, 1932 is a central Act ( made by the parliament). • This Act Deals with special type of contract ( contract of partnership )
• The provisions regarding contract of Partnership were earlier contained in the Indian Contract Act, 1872.
• This Act Extends to the whole of India, Except the state of
Jammu And Kashmir.
• This Act came into force on 1.10.1932, except section 69.
Which came into Force on the 1st day of October, 1933.
Meaning And Defination of
Partnership
• Simply speaking, a partnership is an association of person who conduct some business activity and agree to share profits earned out of it.
• According of Indian Partnership Act,
School Of law
Assignment On
The Indian Partnership Act,
1932
Submitted to – Prof. Inderpreet kaur
Submitted by – Digvijay Moudgill
Roll No. – 5036
L.L.B 3 yearly
Introduction Topic
•
One of the most forms in which business can be carried on is “Partnership”, where two or more persons join together to for the partnership and run the business. In order to govern and guide partnership , The Indian
Partnership Act, 1932 was enacted
•
Since public at large would be dealing with the partnership as customer’s, suppliers, creditor’s, employees or any other capacity. In is also very important to know the legal consequences of their transaction and other action in relation with the partnership. The Indian Partnership Act,
1932
• The law relating to partnership was in section 239 to 266 of the Indian Contract Act, 1872. These sections have been replaced to other Act named Indian Partnership Act
• It came into the force on 1st October, 1932, except section 69 which came into force one year later
• This act is specially meant for governing business of partnership in India. The act mainly contains necessary provisions relating to the formation of the partnership, the rights, duties and liabilities of partner’s and the procedure of its dissolution.
Feature’s Of Partnership
Act 1932
• Indian Partnership Act, 1932 is a central Act ( made by the parliament). • This Act Deals with special type of contract ( contract of partnership )
• The provisions regarding contract of Partnership were earlier contained in the Indian Contract Act, 1872.
• This Act Extends to the whole of India, Except the state of
Jammu And Kashmir.
• This Act came into force on 1.10.1932, except section 69.
Which came into Force on the 1st day of October, 1933.
Meaning And Defination of
Partnership
• Simply speaking, a partnership is an association of person who conduct some business activity and agree to share profits earned out of it.
• According of Indian Partnership Act,