THE INDIAN PARTNERSHIP ACT, 1932 BARE ACT DIGLOT LATEST EDITION 2025
The Indian Partnership Act, 1932, governs the formation, operation, and dissolution of partnerships in India. It defines partnership as the relationship between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. The Act outlines the rights and duties of partners, the conduct of business, and the consequences of various actions within the partnership.
The Indian Partnership Act, 1932, governs the formation, operation, and dissolution of partnerships in India. It defines partnership as the relationship between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. The Act outlines the rights and duties of partners, the conduct of business, and the consequences of various actions within the partnership.
Key aspects of the Indian Partnership Act, 1932:
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Definition of Partnership:The Act defines partnership as the relationship between persons (partners) who agree to share the profits of a business carried on by all or any of them acting for all.
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Essential Elements: