In this Act, unless there is anything repugnant in the subject or context,—(a)an “act of a firm” means any act or omission by all the partners, or by any partner or agent of the firm which gives rise to a right enforceable by or against the firm;(b)“business” includes every trade, occupation and profession;(c)“prescribed” means prescribed by rules made under this Act;(d)“third party” used in relation to a firm or to a partner therein means any person who is not a partner in the firm; and(e)expressions used but not defined in this Act and defined in the Indian Contract Act, 1872 (9 of 1872), shall have the meanings assigned to them in that Act.
