Partnership Act, 1932, Section 45 -- Partnership firm - Dissolution - Does not absolve a partner from liability to the third party except by agreement made with such third party and the partners to the reconstituted firm...........
Civil Procedure Code, 1908, Order 22, Rule 4 -- Partnership firm-Accounts suit by one partner after dissolution of firm or after completion of the venture for which it was constituted-Death of one partner before filing of the suit-L.R's of deceased partner not impleaded-Suit abates even against living partners-All partners whether managing or otherwise are necessary..........
Partnership Act, 1932, Section 69(1) -- Proceeding for dissolution of partnership business - Firm not registered - Bar u/s 69(1) & (2) does not apply to proceedings for dissolution of partnership business as per express provisions contained in S.69(3)-Arbitration in such proceeding can be appointed...........
Indian Partnership Act, 1932, Section 37, Trusts Act, 1882, Section 88 -- Dissolution of firm and settlement of accounts - A partner is entitled to his due share of profit until date of final settlement of accounts by final decree to be passed in the suit - or at his option interest at the rate of 6% p.a. from date of suit until date of final settlement. AIR 1954 Patna 53;..........
Partnership Act, 1932, Section 48 -- Decree for dissolution of existing partnership - Interest - allowable only from the date of final decree. If the suit is for dissolution of a dissolved firm and the circumstances establish that the other partner was in possession of assets or utilized them for the purpose of his business or otherwise guilty of latches, interest is..........
