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<h1>Act of a firm defined as partner or agent acts creating enforceable rights, clarifying business and third-party terms.</h1> The Act defines an act of a firm as any act or omission by all partners, any partner, or an agent that creates rights enforceable by or against the firm; 'business' includes trade, occupation and profession; 'prescribed' means rules under the Act; 'third party' is any person not a partner; and terms undefined in the Act adopt meanings from the Indian Contract Act, 1872.