Varun Kumar Jha

Varun Kumar Jha is a Legal Researcher and the founder of LLB Varun. The content is written and reviewed by Varun Kumar Jha, a dedicated legal author with an LL.B. background from Karnataka State Law University (KSLU). You can review and verify the statutory language directly within the Ministry of Home Affairs Official Gazette Document. 🌐 Connect: LinkedIn | Contact Editor.

Section 242 of Indian contract Act

Servant or agent remunerated by share of profits, not a partner. Rep. by s. 73 and the Second Schedule, ibid.

Widow or child of deceased partner receiving annuity out of profits, not a partner. Rep. by s. 73 and the Second Schedule, ibid.

Person receiving portion of profits for sale of good-will, no a partner. Rep. by s. 73 and the Second Schedule, ibid.

Responsibility of person leading another to believe him a partner. Rep. by s. 73 and the Second Schedule, ibid.

Liability of person permitting him self to be represented as a partner. Rep. by s. 73 and the Second Schedule, ibid.

Minor partner not personally liable, but his share is. Rep. by s. 73 and the Second Schedule, ibid.

Liability of minor partner on attaining majority. Rep. by s. 73 and the Second Schedule, ibid

Partner’s liability for debts of partnership. Rep. by s. 73 and the Second Schedule, ibid.

Partner’s liability to third person for neglect or fraud of co-partner. Rep. by s. 73 and the Second Schedule, ibid.