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        Partnership Firms

        Section 10 - Duty to indemnify for loss caused by fraud

        Indian Partnership Act, 1932
        Chapter III
        RELATIONS OF PARTNERS TO ONE ANOTHER

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        Duty to indemnify: partner must reimburse the firm for losses caused by fraud in the conduct of its business. A partner who commits fraud in the conduct of the firm's business bears a duty to indemnify the firm for any loss resulting from that fraudulent conduct, requiring the partner to restore the firm for losses causally attributable to his deception or dishonest acts in managing firm affairs.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Duty to indemnify: partner must reimburse the firm for losses caused by fraud in the conduct of its business.

                              A partner who commits fraud in the conduct of the firm's business bears a duty to indemnify the firm for any loss resulting from that fraudulent conduct, requiring the partner to restore the firm for losses causally attributable to his deception or dishonest acts in managing firm affairs.


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