The Indian Partnership Act, 1932 – All Sections

An Act to define and amend the Law Relating to Partnership.

The Indian Partnership Act, 1932 has 74 sections in 8 chapters, amended 16 times. Each link below opens the official text of that section. Official PDF on India Code.

The Indian Partnership Act, 1932 PDF

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Official copy of the Act from India Code (Legislative Department, Government of India).

All sections of the Indian Partnership Act, 1932

Chapter I: PRELIMINARY

Section 1 – Short title, extent and commencement
Section 2 – Definitions
Section 3 – Application of provisions of Act 9 of 1872

Chapter II: THENATURE OF PARTNERSHIP

Section 4 – Definition of “partnership”, “partner”, “firm” and “firm name”
Section 5 – Partnership not created by status
Section 6 – Mode of determining existence of partnership
Section 7 – Partnership at will
Section 8 – Particular partnership

Chapter III: RELATIONSOF PARTNERS TO ONE ANOTHER

Section 9 – General duties of partners
Section 10 – Duty to indemnify for loss caused by fraud
Section 11 – Determination of rights and duties of partners by contract between the partners
Section 12 – The conduct of the business
Section 13 – Mutual rights and liabilities
Section 14 – The property of the firm
Section 15 – Application of the property of the firm
Section 16 – Personal profits earned by partners
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

Chapter IV: RELATIONS OF PARTNERS TO THIRD PARTIES

Section 18 – Partner to be agent of the firm
Section 19 – Implied authority of partner as agent of the firm
Section 20 – Extension and restriction of partner’s implied authority
Section 21 – Partner’s authority in an emergency
Section 22 – Mode of doing act to bind firm
Section 23 – Effect of admissions by a partner.,
Section 24 – Effect of notice to acting partner
Section 25 – Liability of a partner for acts of the firm
Section 26 – Liability of the firm for wrongful acts of a partner
Section 27 – Liability of firm for misapplication by partners
Section 28 – Holding out
Section 29 – Rights of transferee of a partner ’s interest
Section 30 – Minors admitted to the benefits of partnership

Chapter V: INCOMING AND OUTGOING PARTNERS

Section 31 – Introduction of a partner
Section 32 – Retirement of a partner
Section 33 – Expulsion of a partner
Section 34 – Insolvency of a partner
Section 35 – Liability of estate of deceased partner
Section 36 – Rights of outgoing partner to carry on competing business
Section 37 – Right of outgoing partner in certain cases to share subsequent profits
Section 38 – Revocation of continuing guarantee by change in firm

Chapter VI: DISSOLUTION OF A FIRM

Section 39 – Dissolution of a firm
Section 40 – Dissolution by agreement
Section 41 – Compulsory dissolution
Section 42 – Dissolution on the happening of certain contingencies
Section 43 – Dissolution by notice of partnership at will
Section 44 – Dissolution by the Court
Section 45 – Liability for acts of partners done after dissolution
Section 46 – Right of partners to have business wound up after dissolution
Section 47 – Continuing authority of partners for purposes of winding up
Section 48 – Mode of settlement of accounts between partners
Section 49 – Payment of firm debts and of separate debts
Section 50 – Personal profits earned after dissolution
Section 51 – Return of premium on premature dissolution
Section 52 – Rights where partnership contract is rescinded for fraud or misrepresentation
Section 53 – Right to restrain from use of firm name or firm property
Section 54 – Agreements in restraint of trade
Section 55 – Sale of goodwill after dissolution

Chapter VII: REGISTRATION OF FIRMS