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        Partnership Firms

        Section 15 - Application of the property of the firm

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

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        Property of the firm must be used exclusively for partnership business, modifiable only by partners' contract. Subject to any agreement among the partners, the property of the firm shall be held and used by the partners exclusively for the purposes of the business, and only contractual variation among partners can alter that exclusive-business-use obligation.
                          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.

                              Property of the firm must be used exclusively for partnership business, modifiable only by partners' contract.

                              Subject to any agreement among the partners, the property of the firm shall be held and used by the partners exclusively for the purposes of the business, and only contractual variation among partners can alter that exclusive-business-use obligation.


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