Partnership Act · 4
Definition of partnership
The relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all.
Library
Civil & Commercial
Indian Partnership Act, 1932
1932 · Parliament of India · 74 sections
Defines partnership, the mutual rights and duties of partners, their relations with third parties, dissolution, and the consequences of non-registration.
Most-invoked sections
Partnership Act · 25
Liability of a partner for acts of the firm
Every partner is liable jointly with all the other partners and also severally for all acts of the firm done while a partner.
Partnership Act · 30
Minors admitted to the benefits of partnership
A minor may be admitted to the benefits of partnership with the consent of all partners but is not personally liable; on attaining majority must elect within six months.
Partnership Act · 32
Retirement of a partner
A retiring partner remains liable for acts of the firm done before retirement unless discharged by agreement, and for later acts until public notice is given.
Partnership Act · 69
Effect of non-registration
An unregistered firm (or a partner suing on its behalf) cannot sue to enforce a contractual right against a third party or against co-partners; the bar does not affect set-off claims under ₹100 or suits for dissolution and accounts.
The text shown is a working summary used inside Nyaya for grounding and UI preview. For verbatim reproduction, refer to the bare Act published on indiacode.nic.in.