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Indian Partnership Act, 1932


CHAPTER II : THE NATURE OF PARTNERSHIP

4. Definition of partnership, partner, firm and firm name

Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all.

Persons who have entered into partnership with one another are called individually partners and collectively a firm, and the name under which their business is carried on is called the firm name.



Indian Partnership Act, 1932 Back




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