section 51
Provided 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.
The Jammu and Kashmir State Partnership Act, 1939Corporate193963 sections5 chapters
Chapter VI Chapter VI
Statutory text
Return of premium on premature dissolution Return of premium on premature dissolution.--Where a partner has paid a premium on entering into partnership for a fixed term and the firm is dissolved before the expiration of that term otherwise than by the death of a partner, he shall be entitled to repayment of the premium of such part thereof as may be reasonable, regard being had to the terms upon which he became a partner and to the length of time during which he was a partner unless--
- (a) the dissolution is mainly due to his own misconduct, or
- (b) the dissolution is in pursuance of an agreement containing no provision for the return of the premium or any part of it.
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