Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 66] [Section 19] [Entire Act]

Union of India - Subsection

Section 19(2) in The Indian Partnership Act, 1932

(2)In the absence of any usage or custom of trade to the contrary, the implied authority of a partner does not empower him to—
(a)submit a dispute relating to the business of the firm to arbitration,
(b)open a banking account on behalf of the firm in his own name,
(c)compromise or relinquish any claim or portion of a claim by the firm,
(d)withdraw a suit or proceeding filed on behalf of the firm,
(e)admit any liability in a suit or proceeding against the firm,
(f)acquire immovable property on behalf of the firm,
(g)transfer immovable property belonging to the firm, or
(h)enter into partnership on behalf of the firm.