Section 12 Partnership Act, 1932 Explained: Liability of partners for wrongful acts | Nyaya

Statutory Content

What does Section 12 of Partnership Act, 1932 say?

Where, by any wrongful act or omission of any partner including any misconduct, neglect or refusal to perform his duties, the business of the firm is wound up, the partner so in default shall be liable to make good the losses sustained by the firm.

Indian StandardSection 12, Partnership Act, 1932

Bluebook (21st ed.)Partnership Act, 1932, § 12 (India)

Court Pleading StandardSection 12 of the Partnership Act, 1932

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Source: Gazette of India (Official Publication)Verify egazette.gov.in ↗

Common Questions about Section 12 Partnership Act, 1932

What is Section 12 of Partnership Act, 1932?

Section 12 of the Partnership Act, 1932 (Partnership Act, 1932) defines and regulates "Liability of partners for wrongful acts". The section states: Where, by any wrongful act or omission of any partner including any misconduct, neglect or refusal to perform his duties, the business of the firm is wound up, the partner so in de...

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