Section 31 Partnership Act, 1932 Explained: Duty of partners to indemnify partner in respect of payments made and debts contracted by him | Nyaya

Statutory Content

What does Section 31 of Partnership Act, 1932 say?

Every partner shall indemnify the firm for any loss or damage sustained by the firm, due to any misconduct or default of such partner. The partner shall also be liable for any debt contracted by him on behalf of the firm, unless the firm has been dissolved. The partner shall also be liable for any loss or damage sustained by the firm, due to any misconduct or default of any other partner.

Indian StandardSection 31, Partnership Act, 1932

Bluebook (21st ed.)Partnership Act, 1932, § 31 (India)

Court Pleading StandardSection 31 of the Partnership Act, 1932

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

Common Questions about Section 31 Partnership Act, 1932

What is Section 31 of Partnership Act, 1932?

Section 31 of the Partnership Act, 1932 (Partnership Act, 1932) defines and regulates "Duty of partners to indemnify partner in respect of payments made and debts contracted by him". The section states: Every partner shall indemnify the firm for any loss or damage sustained by the firm, due to any misconduct or default of such partner. The partner shall also be liable for any debt...

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