https://www.taxtmi.com/acts?id=7428 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. en-us Sat, 19 Jan 2008 22:45:54 +0530 Sat, 19 Jan 2008 22:45:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=7428 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. Act-Rules Partnership Firms Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=7428