The Indian Partnership Act, 1932 Sections 18 to 30 YouTube – LAW EXPLORER

1. Partners are agent of the firm, which section says

so?
Section 18
2. How can partners extend or restrict the implied
authority of any partner?
The partners in a firm can extend or restrict the implied authority of

any partner by contract between the partners. (Refer Section 20)

3. What can a partner do in case of emergency?
He can do all such acts for the purpose of protecting the firm from

loss as would be done by a person of ordinary prudence. (Refer

Section 21)
4. What is the liability of a partner for acts of the firm?
Every partner is liable, jointly with all the other partners and also

severally, for all acts of the firm done while he is a partner. (Refer

Section 25)
5. What is the liability of the firm for wrongful acts of a partner?
The firm is liable to the same extent as the partner. (Refer Section

26)
6. What is Section 30?
“Minors admitted to the benefits of partnership”
7. Can a minor become partner in a firm?

© 2020 Asif Ali (LAW EXPLORER). All rights reserved.

The Indian Partnership Act, 1932 Sections 18 to 30 YouTube – LAW EXPLORER

No, a minor cannot be a partner in a firm, but, with

the consent of all the partners for the time being, he

may be admitted to the benefits of partnership.

(Refer Section 30)

8. Is minor liable for the acts of the firm?
No, minor is not personally liable for any such act. However, his

share is liable for any such act. (Refer Section 30(3))

9. What can a person do after attaining majority?
At any time within six months of his attaining majority, or of his

obtaining knowledge that he had been admitted to the benefits of

partnership, whichever date is later, such person may give public

notice that he has elected to become or that he has elected not to

become a partner in the firm, and such notice shall determine his

position as regards the firm (Refer Section 30(5))

10. What will happen if in the above case he fails to give such
notice?
If he fails to give such notice, he shall become a partner in the firm

on the expiry of the said six months. (Refer Proviso of Section 30(5))

© 2020 Asif Ali (LAW EXPLORER). All rights reserved.