Act Number: 9

Act Name: The Indian Partnership Act, 1932

Year: 1932

Enactment Date: 1932-04-08

Long Title: An Act to define and amend the Law Relating to Partnership.

Ministry: Ministry of Corporate Affairs

Department:

Section 14: The property of the firm.
    Subject to contract between the partners, the property of the firm includes all property and rights and interests in property originally brought into the stock of the firm, or acquired, by purchase or otherwise, by or for the firm, or for the purposes and in the course of the business of the firm, and includes also the goodwill of the business.
     Unless the contrary intention appears, property and rights and interests in property acquired with money belonging to the firm are deemed to have been acquired for the firm.
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