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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

Saptarshi Biswas

Advocate
Exp
Nadia , West Bengal

Specialization

  • Civil
  • Consumer Protection
  • Cheque Bounce
  • Arbitration and Mediation
  • Partnership
Civil Dispute, Matrimonial Dispute, Consumer forum, NI Act related Dispute, and Company matter View Full Profile

Advocate Roshan Khatri

MD & CEO of Khatri Law House
Exp
Lucknow , Uttar Pradesh

Specialization

  • RTI
  • Software License
  • Tax-Property Tax
  • Tax-Sales Tax
  • Partnership
Based in Lucknow, Khatri LAW HOUSE is a team of experts that aims at giving the best to its clients. It has been in the field for 17 years and upholds ‘Professional Excellence’ as its motto. Khatri LAW HOUSE is a one of the Top law firms in Lucknow. Our Lawyers in Lucknow provide a legal servic View Full Profile

Tanaji Londhe

Lawyer
Exp
Pune , Maharashtra

Specialization

  • Criminal
  • Child Custody
  • Registration
  • Trust And Society (NGO)
  • Partnership
We provided LEGAL services; 1) Consumer cases & RERA customer cases 2) Cheque bounce (Section 138) & Recovery Suit. 3) Criminal matter, Regular Bail Application & Anticipatory Bail. 4) Court marriage, divorce & Mutual Divorce (Family law) 5) Trust Formation and Registration with Section 12AA and 80G View Full Profile

Raj Vikram Singh

Advocate
Exp
Lucknow , Uttar Pradesh

Specialization

  • Civil
  • Commercial
  • Banking
  • Bankruptcy And Debt
  • Partnership
I have vast knowledge and experience in all kinds of legal matters and I have been pleading the case before Supreme court to civil court since 10 years. Perfection and hard work with honesty is my theme. View Full Profile

Santhana Krishnan

Advocate
Exp
Coimbatore , Tamil Nadu

Specialization

  • Civil
  • Adoption
  • Animal Laws
  • Arbitration And Mediation
  • Partnership
Advocate Santhana Krishnan is a full-service law firm based in Coimbatore, with expertise in personal legal services including family, divorce, property, wills and estate, and personal injury law. Personal and business clients throughout Tamilnadu . View Full Profile

Saurabh Kaushik

Practicing Lawyer
Exp
Ghaziabad , Uttar Pradesh

Specialization

  • Family
  • Child Custody
  • Partnership
Family Cases Handle View Full Profile

Krishna Mohan Srivastava

Lawyer
Exp
Faizabad , Uttar Pradesh

Specialization

  • Civil
  • Banking
  • Commercial
  • Privacy
  • Partnership
Criminal Cases handle View Full Profile

Rana Kalpesh

Member of ankleshwar advocate
Exp
Bharuch , Gujarat

Specialization

  • Cheque Bounce
  • Child Custody
  • Human Rights
  • Maternity
  • Partnership
B.com.ll.b.advocate. ..in 12 years experience. ..criminal. ..civil. ..motor accident....matrimonial cases. ..land revenue etc View Full Profile

Shriya Jain

Advocate
Exp
Mumbai City , Maharashtra

Specialization

  • Property
  • Documentation
  • Contracts And Agreements
  • Commercial
  • Partnership
B.A.LL.B. (Hons.) - Honours in Business Laws 5+ years PQE Specialised in Real Estate sector View Full Profile

Ajay N S

Advocate, Solicitor
Exp
Ernakulam , Kerala

Specialization

  • Civil
  • Family
  • Cyber, Internet, Information Technology
  • Sexual Harassment at Workplace
  • Partnership
Practicing and serving the legal fraternity since 2000 , enrolled with the Bar Council of Kerela. Mainly specialized in civil matters including family disputes, property disputes, recovery, debt related cases and intellectual property related matters. View Full Profile
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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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Client Testimonials

Top Responding Lawyers
on Partnership Laws

Deepak Bade
Experience: 9 Year(s)
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Rajender Prasad
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NILANJAN CHATTERJEE
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Vimlesh Mishra
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Advocate High Court
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Ashish Dongre
Experience: 12 Year(s)
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Rajeev RJ
Experience: 17 Year(s)
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Abhimanyu Shandilya
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Advocate and Legal Counsel
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Namitabh Kothari
Experience: 19 Year(s)
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ARPIT BATRA
Experience: 11 Year(s)
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Rameshwar Dadhe
Experience: 2 Year(s)
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Shanti Ranjan Behera
Experience: 22 Year(s)
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GANESH SHARMA
Experience: 3 Year(s)
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Nirmal Chopra
Experience: 20 Year(s)
Dr
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Vishwabandhu
Experience: 38 Year(s)
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Experience: 18 Year(s)
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Manjula Shanmugasundaram
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