Discharge from liability (Section 82)
The maker, acceptor or endorser respectively of a negotiable instrument is discharged from liability thereon- (a) By cancellation-to a holder thereof who cancels such acceptor’s...
The maker, acceptor or endorser respectively of a negotiable instrument is discharged from liability thereon- (a) By cancellation-to a holder thereof who cancels such acceptor’s...
The term discharge means release. The term discharge is used in two terms viz (i) Discharge of a negotiable instrument; (ii) discharge of one or...
Section 4 of the Indian Partnership Act, 1932 defines ‘Partnership’ as “Partnership is a relation between persons who have agreed to share the profits of...
Section 6 of the Partnership Act, specifies that in determining whether a group of persons is or is not a firm, or whether a person,...
PARTNERSHIP COMPANY 1.Definition Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or...
The Indian Partnership Act does not make registration of a firm compulsory nor does it impose any penalty for non registration. It is optional for...
The following are the different types of Partnership : (i) Partnership for a fixed Term – Where Partners have agreed to carry on the...
The Rights of a partner are as under: (i) To take active part in the business – Every partner has a right to take active...
Partnership Property Property of the firm is taken to mean the joint property of all the partners. The Partners in fact by an agreement amongst...
Minor Partner – As per Section 11 of the Indian Contract Act, 1872 a minor cannot enter into an agreement. However Section 30 of the...