Indian Partnership Act

Corporate & Other Laws

Please explain to me the second part of this paragraph beginning from " but if any partner assuming to act....." and ending at " foregoing provisions of this section "

Ardhendu Sekhar Acharya

CMA Inter

★ 250

17-May-23 08:48

457

Answers (1)

The partner who purchased interest of deceased / outgoing partner, if doesn't act as per terms and conditions, he will be liable to forego the share of profits attributable to use of share of deceased/outgoing partner's property of the firm

Sahibdeep Singh

CA Inter

★ 14K+

19-May-23 10:28