Section 38 of Indian Partnership Act
Revocation of continuing guarantee by change in firm.— A continuing guarantee given to a firm, or to a third party in respect of the transactions of a firm, is, in the absence of agreement to…
Section 39 of Indian Partnership Act
Dissolution of a firm.— The dissolution of partnership between all the partners of a firm is called the “dissolution of the firm”.
Section 40 of Indian Partnership Act
Dissolution by agreement.— A firm may be dissolved with the consent of all the partners or in accordance with a contract between the partners.
Section 41 of Indian Partnership Act
Compulsory dissolution.— A firm is dissolved— Provided that, where more than one separate adventure or undertaking is carried on by the firm, the illegality of one or more shall not of itself cause the dissolution…
Section 42 of Indian Partnership Act
Dissolution on the happening of certain contingencies.— Subject to contract between the partners a firm is dissolved—
Section 43 of Indian Partnership Act
Dissolution by notice of partnership at will.— (1) Where the partnership is at will, the firm may be dissolved by any partner giving notice in writing to all the other partners of his intention to…
Section 44 of Indian Partnership Act
Dissolution by the Court.— At the suit of a partner, the Court may dissolve a firm on any of the following grounds, namely:— (a) that a partner has become of unsound mind, in which case…
Section 45 of Indian Partnership Act
Liability for acts of partners done after dissolution.— (1) Notwithstanding the dissolution of a firm, the partners continue to be liable as such to third parties for any act done by any of them which…
Section 46 of Indian Partnership Act
Right of partners to have business wound up after dissolution.— On the dissolution of a firm every partner or his representative is entitled, as against all the other partners or their representatives, to have the…