Mera Samvidhaan All of Indian Partnership Act, 1932

Chapter V · Incoming and Outgoing Partners

38Revocation of continuing guarantee by change in firm.

Section 38 · Chapter V · page 10 of the Act

A continuing guarantee given to a firm, or to a third party in respect of the transactions of a firm, is, in the absence of agreement to the contrary, revoked as to future transactions from the date of any change in the constitution of the firm.

Section 38 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.