Section 45 of IPA : Section 45: Liability For Acts Of Partners Done After Dissolution
IPA
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Explanation using Example
Imagine a scenario where a partnership firm called "ABC Partners" has recently dissolved. Despite this, one of the former partners, John, enters into a contract with a supplier, Rachel, to purchase goods on behalf of the now-dissolved firm. Rachel, unaware of the firm's dissolution, delivers the goods. Under Section 45(1) of The Indian Partnership Act, 1932, all the former partners of "ABC Partners" would still be liable to Rachel for the contract e...
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