Mera Samvidhaan All of Indian Partnership Act, 1932

Chapter III · Relations of Partners to One Another

14The property of the firm.

Section 14 · Chapter III · page 6 of the Act

Subject to contract between the partners, the property of the firm includes all property and rights and interests in property originally brought into the stock of the firm, or acquired, by purchase or otherwise, by or for the firm, or for the purposes and in the course of the business of the firm, and includes also the goodwill of the business.

Unless the contrary intention appears, property and rights and interests in property acquired with money belonging to the firm are deemed to have been acquired for the firm.

Section 14 of The Indian Partnership Act, 1932 is reproduced in full above, as printed by India Code, with its footnotes and amendment markers. Read the whole Act, or browse every Act on Mera Samvidhaan.