Section 27 Partnership Act, 1932 Explained: Admission or refusal to be subject to rules regulating a firm | Nyaya

Statutory Content

What does Section 27 of Partnership Act, 1932 say?

A person who has become a partner in a firm shall be subject to the rules regulating a firm, unless he has given notice of his intention to retire from the firm. If a person who has become a partner in a firm refuses to be subject to the rules regulating a firm, he shall be liable to make good any loss to the firm. The firm shall not be bound by any act of a partner who refuses to be subject to the rules regulating a firm.

Indian StandardSection 27, Partnership Act, 1932

Bluebook (21st ed.)Partnership Act, 1932, § 27 (India)

Court Pleading StandardSection 27 of the Partnership Act, 1932

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

Common Questions about Section 27 Partnership Act, 1932

What is Section 27 of Partnership Act, 1932?

Section 27 of the Partnership Act, 1932 (Partnership Act, 1932) defines and regulates "Admission or refusal to be subject to rules regulating a firm". The section states: A person who has become a partner in a firm shall be subject to the rules regulating a firm, unless he has given notice of his intention to retire from the firm. If a person who ha...

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