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          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.

          <h1>Partner remuneration rules: no pay for management; equal profit sharing and indemnities govern advances and liabilities.</h1> Absent agreement to the contrary, partners are not entitled to remuneration for managing the business; profits and losses are shared equally; interest on subscribed capital is payable only from profits; partners advancing funds beyond agreed capital are entitled to interest on such advances. The firm must indemnify partners for payments and liabilities incurred in ordinary business conduct and reasonable emergency acts to protect the firm, while partners must indemnify the firm for losses caused by their wilful neglect.

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