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Section 17: Rights and duties of partners— after a change in the firm, after the expiry of the term of the firm, and where additional undertakings are carried out
Subject to contract between the partners,–
- (a) where a change occurs in the constitution of a firm, the mutual rights and duties of the partners in the reconstituted firm remain the same as they were immediately before the change, as far as may be;
- (b) where a firm constituted for a fixed term continues to carry on business after the expiry of that term, the mutual rights and duties of the partners remain the same as they were before the expiry, so far as they may be consistent with the incidents of partnership at will; and
- (c) where a firm constituted to carry out one or more adventures or undertakings carries out other adventures or undertakings, the mutual rights and duties of the partners in respect of the other adventures or undertakings are the same as those in respect of the original adventures or undertakings.
Source: official text of The Indian Partnership Act, 1932 as published on India Code (PDF). All sections of the Indian Partnership Act, 1932.