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Section 54 Indian Partnership Act 1932

Section 54 Indian Partnership Act

Section 54 of the Indian Partnership Act 1932 is about Agreements in restraint of trade. It is under CHAPTER VI (Dissolution of A Firm) of the Act.

Agreements in restraint of trade.

Partners may, upon or in anticipation of the dissolution of the firm, make an agreement that some or all of them will not carry on a business similar to that of the firm within a specified period or within specified local limits; and notwithstanding anything contained in section 27 of the Indian Contract Act, 1872 (9 of 1872), such agreement shall be valid if the restrictions imposed are reasonable.

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See also  Section 89 Indian Patents Act 1970

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