Law · Indian Partnership Act, 1932
As per Section 14 of the Indian Partnership Act, 1932, subject to a contract between the partners, the property of a firm does NOT include:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1the goodwill of the business.
- 2property belonging to an individual partner, used by the firm for the purposes of the partnership business without an intention to make it firm's property.✓
- 3property acquired by purchase or otherwise, by or for the firm, or for the purposes and in the course of the business of the firm.
- 4all property and rights and interests in property originally brought into the stock of the firm.
Correct answer
property belonging to an individual partner, used by the firm for the purposes of the partnership business without an intention to make it firm's property.
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