cover image: The Calcutta Gazeteer. Thursday  March 5  1931. Part VI

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The Calcutta Gazeteer. Thursday March 5 1931. Part VI

1931

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. [...] (1) A partner is the agent of the firm for the purposes of the affairs of the firm and subject to the provisions of section 22 the act of a partner which is done to carry on in the usual way business of the kind carried on by the firm binds the firm. [...] (/) A transfer by a partner of his interest in the firm either absolute or by mortgage or by the creation by him of a charge on such interest does not entitle the transferee during the continuance of the firm to interfere in the conduct of the business or to require accounts or to inspect the books of the firm but entitles the transferee only to receive the share of profits of the transfer [...] (5) In the absence of a contract to the contrary in determining the amount of the minor's share the value of the goodwill of the business shall be excluded from the assets of the firm. [...] a lien on or a right of retention of the surplus of the assets of the firm remaining after the debts of the firm have been paid for any sum paid by him for the purchase of a share in the firm and for any capital contributed by him; rank as a creditor of the firm in respect of any payment made by him towards the debts of the firm; and be indemnified by the partner or partners guilty of the fraud
government politics public policy
Pages
37
Published in
India
SARF Document ID
sarf.100008
Segment Pages Author Actions
Part VI
17-53 unknown view