Section 37 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 37 of Partnership Act, 1932 say?

Every partner shall indemnify the firm for any payment made and any debt contracted by him in the ordinary and usual conduct of the business of the firm, and for any loss or damage sustained by the firm otherwise than in the ordinary and usual conduct of the business of the firm, if the partner is found by the civil court to have so acted or incurred the loss or damage, as the case may be, in good faith.

Indian StandardSection 37, Partnership Act, 1932

Bluebook (21st ed.)Partnership Act, 1932, § 37 (India)

Court Pleading StandardSection 37 of the Partnership Act, 1932

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

Common Questions about Section 37 Partnership Act, 1932

What is Section 37 of Partnership Act, 1932?

Section 37 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 payment made and any debt contracted by him in the ordinary and usual conduct of the business of the firm, and for any loss or damage...

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