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Consult and get Expert Advice on Partnership Laws matters from the best Partnership Lawyers in India. Let us know your requirement we will help you to find the best Lawyer suited for your matter within your budget.
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Consult Top Partnership Expert Lawyer in India

Sayaree Ganguly

Advocate
Exp
Hooghly , West Bengal

Specialization

  • Family
  • Banking
  • Torts
  • Partnership
I am a law graduate from Calcutta University. I have worked as a legal trainee at Bankshall Court and presently working as an advocate at Shandilyaz Advocates and Counsels. I am seeking an opportunity to give sincere and devoted efforts towards the requirement of my clients. Thank you. View Full Profile
Total Answers Given : 16
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SUNDARAVADIVELU VELU

Proprietor
Exp
Chennai , Tamil Nadu

Specialization

  • Tax-Income Tax
  • Civil
  • Real Estate
  • Property
  • Partnership
SPECIALISED IN DIRECT AND INDIRECT MATTER, CHEQUE BOUNCE CRIMINAL CASES, PROPERTY DOCUMENTATION View Full Profile
Total Answers Given : 10
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VIMAL K MISHRA

Advocate High Court
Exp
Allahabad , Uttar Pradesh

Specialization

  • Civil
  • Contracts And Agreements
  • Employment And Labour
  • Government Contracts
  • Partnership
Vimal Kumar Mishra have substantial work experience with DRT, DART, CAT and matters related to Corporate laws, Consumer, Loan securities and mortgage creation, Constitutional, MRTP, Rent, Property, GST, Income Tax, Co-operative Societies, Labour laws, Trademark, Patent & Copyright. View Full Profile
Total Answers Given : 123
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Kalyanraopeddireddi PEDDIREDDI

FORMER DISTRICT & SESSIONS JUDGE NOW ADVOCATE
Exp
Hyderabad , Telangana

Specialization

  • Intellectual Property, Copyright, Patent, Trademar
  • Arbitration And Mediation
  • Cyber, Internet, Information Technology
  • Landlord And Tenant
  • Partnership
An experienced Judge who has completed 33 years in Indian Judiciary, retired as District & Sessions Judge, now ADVOCATE, HIGH COURT OF JUDICATURE AT HYDERABAD, ALSO C.E.O OF KALYAN LEGAL EXCEL ONLINE SERVICES for all Citizens & Non-resident Indian giving legal solutions within 24 of asking Query. View Full Profile
Total Answers Given : 10
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Shivaleela Gujare

lawyer
Exp
Pune , Maharashtra

Specialization

  • Partnership
  • Cheque Bounce
  • Banking
  • Adoption
  • Civil
Total Answers Given : 2
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Raghu Rajegowda

Advocate ( Lawyer)
Exp
Bangalore , Karnataka

Specialization

  • Civil
  • Criminal
  • Administrative Law
  • Banking
  • Partnership
Advocate Raghu Rajegowda has been practicing and handling cases independently with a result-oriented approach, both professionally and ethically and has now acquired many years of professional experience in providing legal consultancy and advisory services. View Full Profile
Total Answers Given : 10
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K Mondal

Lawyer
Exp
Kolkata , West Bengal

Specialization

  • Military Laws
  • Civil
  • Criminal
  • Divorce
  • Partnership
Deals in any kind of Armed Forces Tribunal (Court Martial, Disciplinary Proceedings, Disability Pension, Round Off, Transfer etc), Writ, Civil, Criminal, Property, Company C.A.T, S.A.T etc matters. View Full Profile
Total Answers Given : 2
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Rajender Prasad

Lawyer
Exp
New Delhi , Delhi

Specialization

  • Civil
  • Property
  • Partnership
Civil & Criminal matters View Full Profile
Total Answers Given : 622
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Adv. S.S Gosavi

Advocate
Exp
Mumbai City , Maharashtra

Specialization

  • Administrative Law
  • Consumer Protection
  • Commercial
  • Contracts And Agreements
  • Partnership
I do provide legal services in the area of criminal,constitutional,civil,service and consumer laws by practicing in and before the Bomaby High Court ,state commission ,MAT and various judicial and qusi-judicial authorities throuout and out of the Maharastra for last 4 Years. View Full Profile

Arnab Banerjee

Advocate
Exp
Kolkata , West Bengal

Specialization

  • Criminal
  • Administrative Law
  • Arbitration And Mediation
  • Banking
  • Partnership
i am good at research work and documentation work of all kind. View Full Profile
Total Answers Given : 7
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  • What is Partnership?
  • Why Partnership?
  • Which Laws Govern Partnership?
  • How to End Partnership?
  • What are the Liabilities of Partners in Partnership?

Prior to 1932, Chapter XI (Sections 239 to 266) of the Indian Contract Act, 1872 contained the law relating to partnership in India. As these provisions were not exhaustive, it was considered expedient and necessary to separate the law relating to partnership and to embody it in a separate enactment. Hence, the Indian Partnership Act, 1932 was brought to the fore.

What Is Partnership?


It is a type of Business where two or more persons pool money, skill and other resources and share the profit of such business as per agreed terms in Partnership Agreement. The liabilities and risks associated in such business is shared as per the Agreement or if there is no agreement then it is shared proportionately.

Advantages of Partnership


  • Easy to establish.
  • Easy to Raise Funds.
  • Wide pool of Knowledge, Skill and Contacts.
  • Improved Management.
  • Sharing of Profit and Loss.
  • Equal Rights in Management.

Laws Governing Partnership


  • A partnership firm is not a distinct legal entity apart from the partners constituting it, i.e. a partnership firm is not a ‘person in law’ but is merely an association of individuals.
  • As per Section 4 of the Act, 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.
  • An agreement of partnership need not be express but can be inferred from the course of conduct of the parties to the agreement
  • As per Section 11 of the Act, the mutual rights and duties of the partners of the firm may be determined by contract between the partners, and such contract may be expressed or may be implied by the course of dealing.
  • As per Section 29 of the Act, a transfer by a partner of his rights 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 transferring partner, and the transferee shall accept the account of profits agreed to by the partners. As per Section 31 of the Act, no person shall be introduced as a partner into a firm without the consent of all the existing partners.
  • As per Section 33 of the Act, a partner may not be expelled from a firm by any majority of the partner, save in the exercise in good faith of powers conferred by contract between the partners. (Rules of Section 32 can be applicable to an expelled partner)

Dissolution of Partnership


  • Dissolution by Mutual Agreement
  • Dissolution by Court.

Dissolution by Mutual Agreement


  • By Agreement (Section 40 Of Indian Partnership Act,1932).
  • By Compulsory Dissolution (Section 41 Of Indian Partnership Act,1932).
  • Dissolution by Happening of a Contingent Event (Section 42 Of Indian Partnership Act,1932).
  • Dissolution by Notice (Section 43 Of Indian Partnership Act,1932).

Dissolution by Court


  • Insanity of Partner.
  • Incapacity of Partner.
  • Misconduct of Partner.
  • Constant Breach of Agreement of Partner.
  • Transfer of Interest.
  • Continuous Losses.

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Top Responding Lawyers
on Partnership Laws

Kishan Dutt Kalaskar Retired Judge
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Deepak Bade
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ROBERT D ROZARIO
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Rameshwar Dadhe
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Prabhakara S K Shetty
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Rajender Prasad
Experience: 5 Year(s)
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NILANJAN CHATTERJEE
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ADVOCATE
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Vimlesh Mishra
Experience: 26 Year(s)
Advocate High Court
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Ashish Dongre
Experience: 12 Year(s)
Advocate
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Rajeev RJ
Experience: 17 Year(s)
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Yusuf Mithi
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Mohd Imran
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Suneel
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Advocate
Panipat
Abhimanyu Shandilya
Experience: 14 Year(s)
Advocate and Legal Counsel
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Namitabh Kothari
Experience: 19 Year(s)
Advocate
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ARPIT BATRA
Experience: 11 Year(s)
Attorney
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Shanti Ranjan Behera
Experience: 22 Year(s)
Advocate
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Sunil Kumar Singh
Experience: 17 Year(s)
Lawyer,Attorney,Solicitor
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GANESH SHARMA
Experience: 3 Year(s)
Criminal Lawyer
Faridabad
Nirmal Chopra
Experience: 20 Year(s)
Dr
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Experience: 38 Year(s)
SENIOR LAWYER
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Johnson Thangiah
Experience: 18 Year(s)
Advocate / Trial Advocate
Tirunelveli