Vidhi Codex

The Jammu and Kashmir State Partnership Act, 1939

The Jammu and Kashmir State Partnership Act, 1939

Corporate193963 sections5 chapters

This Act sets out the law of partnership in Jammu and Kashmir. It defines a partnership and how its existence is decided, sets out the rights and duties of partners towards each other, and partners' authority to bind the firm. It also covers the liability of partners to third parties, changes in the firm, and dissolution.

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Chapter III Chapter III →

  1. 9General duties of partners
  2. 10Duty to indemnify for loss caused by fraud
  3. 11Determination of rights and duties of partners by contract between the partners
  4. 12The conduct of business
  5. 20Extension and restriction of partner's implied authority
  6. 21Partner's authority in an emergency
  7. 22Mode of doing act to bind firm
  8. 23Effect of admissions by a partner
  9. 24Effect of notice to acting partner
  10. 25Liability of a partner for acts of the firm
  11. 26Liability of the firm for wrongful act of a partner
  12. 27Liability of firm for misapplication by partners
  13. 28Holding out
  14. 29Rights of transferee of a partner's interest
  15. 30Minors admitted to the benefits of partnership

Chapter V Chapter V →

  1. 31Introduction of a partner
  2. 32Retirement of a partner
  3. 33Expulsion of a partner
  4. 34Insolvency of a partner
  5. 35Liability of estate of deceased partner
  6. 36Rights of outgoing partner to carry on competing business
  7. 37Right of outgoing partner in certain cases to share subsequent profits
  8. 38Revocation of continuing guarantee by change in firm

Chapter VI Chapter VI →

  1. 39Dissolution of a firm
  2. 40Dissolution by agreement
  3. 41Compulsory dissolution
  4. 42Dissolution on the happening of certain contingencies
  5. 43Dissolution by notice of partnership at will
  6. 44Dissolution by the Court
  7. 45Liability for acts of partners done after dissolution
  8. 46Right of partners to have business wound up after dissolution
  9. 47Continuing authority of partners for purposes of winding up
  10. 48Mode of settlement of accounts between partners
  11. 49Payment of firm debts and of separate debts
  12. 50The separate property of any partner shall be applied first in the payment of his separate debts, and the surplus (if any) in the payment of the debts of the firm.
  13. 51Provided that, where any partner or his representative has bought the goodwill of the firm, nothing in this section shall affect his right to use the firm name.
  14. 52Rights where partnership contract is rescinded for fraud or misrepresentation
  15. 53Right to restrain from use of firm name or firm property
  16. 54Agreements in restraint of trade
  17. 55Sale of goodwill after dissolution

Chapter VII Chapter VII →

  1. 56Power to exempt from application of this Chapter
  2. 57Appointment of Registrars
  3. 58Application for registration
  4. 59Registration
  5. 60Recording of alterations in firm name and principal place of business
  6. 61Noting of closing and opening of branches
  7. 62Noting of changes in names and addresses of partners
  8. 63Recording of changes in and dissolution of a firm
  9. 64Rectification of mistakes
  10. 65Amendment of Register by order of Court
  11. 66Inspection of Register and filed documents
  12. 67Grant of copies
  13. 68Rules of evidence
  14. 69Effect of non-registration
  15. 70Penalty for furnishing false particulars
  16. 71Power to make rules

Chapter VIII Chapter VIII →

  1. 72Mode of giving public notice
  2. 73Repeals
  3. 74Savings

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