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Indian Partnership Act, 1932 Section 5 - Bare Act

StateCentral Government
Section TitlePartnership Not Created by Status
Act Info:

The relation of partnership arises from contract and not from status;

and, in particular, the members of a Hindu undivided family carrying on a family business as such, or a Burmese Buddhist husband and wife carrying on business as such, are not partners in such business.

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