Table of Contents Modes of Introduction of a Partner Expulsion of a Partner Insolvency of a Partner Death of a Partner Retirement of a Partner Rights of an Outgoing Partner MODES OF INTRODUCTION OF A PARTNER Section 31 of the Indian Partnership Act, 1932, deals with the following rules of introduction of a partner in […]
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Table of Contents Section 58: Application for Firm Registration Section 59: Registration of the Firm Section 69: Effects of Non-Registration Suit Between Partners and Firm Suit Between Firm and Third Parties Exceptions Section 70: Penalty for False Statements Section 58: Application for Firm Registration Under Section 58 of the Indian Partnership Act, 1932, a firm
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Table of Contents Section 18: Partner as Agent Section 19: Implied Authority of a Partner Section 20 to 22: Authority Scope Section 25: Joint and Several Liability Section 26: Liability for Wrongful Acts Section 27: Misapplication of Money Section 28: Doctrine of Holding Out Section 30: Minor and Partnership Chapter IV of the Indian Partnership
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📚 Table of Contents General Duties of Partners Rights of Partners Determination of Rights & Duties Personal Profits by Partner Effect of Change, Expiry or Additional Undertaking General Duties of Partners The general duties of partners are: Carry on the business for the greatest common advantage – Section 9 Be just and faithful to each
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📚 Table of Contents What is Partnership? Types of Partners Section 5 – Partnership by Contract Section 6 – Nature of Relationship Partnership at Will Particular Partnership Indian Partnership act was enacted in 1932 and came into force from 1st October , 1932. This act deals with regulating the partnership business in India. Partnership is basically
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Ever heard the legal maxim “Nemo dat quod non habet”? It means: “No one can give what they do not have.” 🧠 This is the golden rule behind Section 27 of the Sale of Goods Act, 1930 — protecting the true owner’s rights over their property. Section 27 – The General Rule Section 27, as
The essence of a contract of sale lies in the transfer of property in goods from the seller to the buyer. Section 4 of the Sale of Goods Act, 1930 confirms this by stating that the seller either transfers or agrees to transfer ownership of goods for a price. To understand how and when this
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The Sale of Goods Act, 1930 governs contracts relating to the sale of goods in India. It came into force on July 1, 1930 and applies to all types of commercial transactions involving goods. Table of Contents Sale and Agreement to Sell Way in Which Contract of Sale is Made Sale by Description Sale by
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This article contains following topics: Agent and Principal Types of agent Features of contract of agency Agent`s authority Ratification Rights of agent Duties of agent Sub agent AGENT AND PRINCIPAL Section 182 of the Indian Contract Act, 1872 defines two terms agent and principal as follows: Agent- An “agent” is a person employed to do
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📌 Topics Covered: Pledge Rights of Pawnee Important Points Related to Pledge What is a Pledge? Section 172 of the Indian Contract Act, 1872 defines the concepts of pledge, pawnor, and pawnee: Pledge: Bailment of goods as security for payment of a debt or performance of a promise. Pawnor: The person who delivers the goods