Home » India » Indian Partnership Act 1932 » Section 27 Indian Partnership Act 1932

Section 27 Indian Partnership Act 1932

Section 27 Indian Partnership Act

Section 27 of the Indian Partnership Act 1932 is about Liability of firm for misapplication by partners. It is under CHAPTER IV (RELATION OF PARTNERS TO THIRD PARTIES) of the Act.

Liability of firm for misapplication by partners.

Where–

(a) a partner acting within his apparent authority receives money or property from a third party and misapplies it, or


(b) a firm in the course of its business receives money or property from a third party, and the money or property is misapplied by any of the partners while it is in the custody of the firm,

the firm is liable to make good the loss.


See also  Section 34 Indian Partnership Act 1932

More Posts

Rule 65.1 Federal Rules of Civil Procedure

Rule 65.1 Federal Rules of Civil Procedure Rule 65.1 of the Federal Rules of Civil Procedure is about Proceedings Against a Security Provider. It is under Title VII (Judgment)

Rule 65 Federal Rules of Civil Procedure

Rule 65 Federal Rules of Civil Procedure Rule 65 of the Federal Rules of Civil Procedure is about Injunctions and Restraining Orders. It is under Title VII (Judgment) of

Facebook
Twitter
LinkedIn

Leave a Reply

Your email address will not be published. Required fields are marked *

LawGlobal Hub is your innovative global resource of law and more. We ensure easy accessibility to the laws of countries around the world, among others