Section 32 Partnership Act, 1932 Explained: Application of partnership property to discharge partnership debts | Nyaya

Statutory Content

What does Section 32 of Partnership Act, 1932 say?

The partnership property shall be applied to discharge the partnership debts, in the following order: (a) the debts due to the partners; (b) the debts due to third parties; (c) the debts due to the partners, in the order in which they became due. The partnership property shall be applied to discharge the debts in the order in which they became due, unless the partners agree otherwise.

Indian StandardSection 32, Partnership Act, 1932

Bluebook (21st ed.)Partnership Act, 1932, § 32 (India)

Court Pleading StandardSection 32 of the Partnership Act, 1932

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

Common Questions about Section 32 Partnership Act, 1932

What is Section 32 of Partnership Act, 1932?

Section 32 of the Partnership Act, 1932 (Partnership Act, 1932) defines and regulates "Application of partnership property to discharge partnership debts". The section states: The partnership property shall be applied to discharge the partnership debts, in the following order: (a) the debts due to the partners; (b) the debts due to third parties; (c) the...

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