Laws and Bare Acts of India at MyNation.net

MyNation Foundation Online Law Library

Section 19 – The Partnership Act, 1932

The Partnership Act, 1932

 

19. IMPLIED AUTHORITY OF PARTNER AS AGENT OF THE FIRM.

 

(1) Subject to the provisions of section 22, the act of a partner which is done to carry on, in the usual way, business of the kind carried on by the firm, binds the firm.

 

The authority of a partner to bind the firm conferred by this section is called his “implied authority”.

 

(2) In the absence of any usage or custom of trade to the contrary, the implied authority of a partner does not empower him to –

 

(a) submit a dispute relating to the business of the firm to arbitration,

 

(b) open a banking account on behalf of the firm in his own name,

 

(c) compromise or relinquish any claim or portion of a claim by the firm,

 

(d) withdraw a suit or proceeding filed on behalf of the firm,

 

(e) admit any liability in a suit or proceeding against the firm,

 

(f) acquire immovable property on behalf of the firm,

 

(g) transfer immovable property belonging to the firm, or

 

(h) enter into partnership on behalf of the firm.

 

 

Previous | Next

 

The Partnership Act, 1932

 

Indian Laws – Bare Acts

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2021 Laws and Bare Acts of India at MyNation.net
×

Free Legal Help, Just WhatsApp Away

MyNation HELP line

We are Not Lawyers, but No Lawyer will give you Advice like We do

Please read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registration  JOIN WELCOME GROUP HERE

We handle Women Centric biased laws like False Section 498A IPC, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307, 312, 313, 323, 354, 376, 377, 406, 420, 497, 506, 509; TEP, RTI and many more…

MyNation FoundationMyNation FoundationMyNation Foundation