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[Cites 0, Cited by 0] [Section 13] [Entire Act]

State of Jammu-Kashmir - Subsection

Section 13(e) in The Jammu and Kashmir State Partnership Act, 1996

(e)the firm shall indemnify a partner in respect of payment made and liabilities incurred by him-
(i)in the ordinary and proper conduct of the business, and
(ii)in doing such act in an emergency for the purpose of protecting the firm from loss, as would be done by a person of ordinary prudence in his own case, under similar circumstances: and