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Section 36 – The Partnership Act, 1932

The Partnership Act, 1932

 

36. RIGHTS OF OUTGOING PARTNER TO CARRY ON COMPETING BUSINESS.

 

(1) An outgoing partner may carry on a business competing with that of the firm and he may advertise such business, but subject, to contract to the contrary, he may not

 

(a) use the firm-name,

 

(b) represent himself as carrying on the business of the firm, or

 

(c) solicit the custom of persons who were dealing with the firm before he ceased to be a partner.

 

(2) AGREEMENT IN RESTRAINT OF TRADE.

 

A partner may make an agreement with his partners that on ceasing to be a partner he will not carry on any business similar to that of the firm within a specified period or within specified local limits; and, notwithstanding anything contained in section 27 of the Indian Contract Act, 1872, such agreement shall be valid if the restrictions imposed are reasonable.

 

 

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The Partnership Act, 1932

 

Indian Laws – Bare Acts

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