It is a site to share short notes on law for judicial exam in india. you can comment on any post, ask for judgment on any topic and free to ask any question related to judicial exam.
Apr 1, 2009
Partnership
In Commr. of Income-tax V. Sir Hukumchand Mannalal and Co., (1970) 78 ITR 18
"The Indian Contract Act imposes no disability upon members of a Hindu undivided family in the matter of entering into a contract inter se or with a stranger. A member of a Hindu undivided family has the same liberty of contract as any other individual : it is restricted only in the manner and to the extent provided by the Indian Contract Act. Partnership is under Section 4 of the Partnership Act the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all : if such a relation exists, it will not be invalid merely because two or more of the persons who have so agreed are members of a Hindu undivided family."
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