Home Acts & Rules Partnership Firms Act Indian Partnership Act, 1932 Chapters List Chapter II THE NATURE OF PARTNERSHIP This
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Section 4 - Definitions of "partnership", "partner", "firm" and "firm name" - Indian Partnership Act, 1932Extract CHAPTER II THE NATURE OF PARTNERSHIP Definitions of "partnership", "partner", "firm" and "firm name" 4. "Partnership" is the relation between persons who have agreed to share the profits of business carried on by all or any of them acting for all. Persons who have entered into partnership with one another are called individually "partners" and collectively "a firm", and the name under which their business is carried on is called the "firm name".
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