The Indian Partnership Act, 1932
CHAPTER III: RELATIONSOF PARTNERS TO ONE ANOTHER
Section 13: Mutual Rights And Liabilities
Bare Act
Subject to contract between the partners -
- (a) a partner is not entitled to receive remuneration for taking part in the conduct of the business; … Read the complete text with KanoonGPT Pro.
Simplified Act
Unless the partners have agreed to different terms:
- (a) A partner cannot be paid for helping to run the business.… Read the complete text with KanoonGPT Pro.
Explanation using examples
Here's a hypothetical scenario illustrating the application of Section 13 of The Indian Partnership Act, 1932:
Rahul, Priya, and Aman form a partnership to start… Read the complete text with KanoonGPT Pro.
