Thursday, November 21, 2024    Bookmark and Share
Prashant Verma & Co.
Chartered Accountants
Advanced Search
My Documents
Admin Login
 
Home
Services
About Us
Presentation
Team
Contact Us
Partners
Ask a Query
News & Events
Information Sharing

Section11 DETERMINATION OF RIGHTS AND DUTIES OF PARTNERS BY CONTRACT BETWEEN THE PARTNERS.

(1) Subject to the provisions of this Act, the mutual rights and duties of the partners of a firm may be determined by contract between the partners, and such contract may be express or may be implied by a course of dealing. Such contract may be varied by consent of all the partners, and such consent may be express or may be implied by a course of dealing. (2) AGREEMENTS IN RESTRAINT OF TRADE. Notwithstanding anything contained in section 27 of the Indian Contract Act, 1872, such contracts may provide that a partner shall not carry on any business other than that of the firm while he is a partner.

 
Total Visitors: 1323