Ch 3 · Indian Partnership Act, 1932

5 concept points · 0 formulas · 4 exam-critical points.

⭐ Important points (exam-critical)

• ⭐Sharing of profits is prima facie evidence — not conclusive proof of partnership.
• ⭐Sec 69 — unregistered firm: cannot sue partners or outsiders, but can be sued.
• ⭐Minor admitted to benefits only (Sec 30); not personally liable.
• ⭐LLP Act 2008 is separate from Partnership Act 1932 — LLPs have perpetual succession.