Firm property doctrine: assets, rights and goodwill acquired for firm treated as firm property; presumption for purchases with firm money. Section 14 treats firm property as including all property, rights and interests originally contributed or subsequently acquired by or for the firm in the course of its business, including goodwill, and presumes that assets purchased with firm money were acquired for the firm unless a contrary intention appears.
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.
Firm property doctrine: assets, rights and goodwill acquired for firm treated as firm property; presumption for purchases with firm money.
Section 14 treats firm property as including all property, rights and interests originally contributed or subsequently acquired by or for the firm in the course of its business, including goodwill, and presumes that assets purchased with firm money were acquired for the firm unless a contrary intention appears.
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