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Section 54 – The Partnership Act, 1932

The Partnership Act, 1932

 

54. AGREEMENTS IN RESTRAINT OF TRADE.

 

Partners may, upon or in anticipation of the dissolution of the firm, make an agreement that some or all of them will not carry on a 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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