Law: Partnership Act, 1932

Section: 69

(a) Partnership Act (IX of 1932)---S. 69---Unregistered partnership firm---Effect---Such firm could not start its business in its name unless registered. (b) Partnership Act (IX of 1932)---Ss. 45, 46, 47 & 48---Registered partnership firm dissolved subsequently--- Continuing authority of partners of such firm---Scope---Merely on dissolution of firm, partnership would not come to a complete end, rather same would continue and its partners would continue to perform their duties till winding up of all its matters---Every partner after dissolution of firm could sue or be sued in the name of such firm provided cause of action arose before its dissolution and its adjudication remained unfinished. Messrs Memon Trading Co. v. Messrs Hajee Gaffar Hajee Habib Janoo PLD 1966 Dacca 612 rel. (c) Contract Act (IX of 1872)--- ----Ss. 196 & 202---Partnership Act (IX of 1932), Ss. 45, 46, 48 & 69---Civil Procedure Code (V of 1908), S. 12(2)---Partnership firm, dissolution of---Award in arbitration proceedings made rule of court making -debtor liable to pay certain amount to partners of dissolved firm---Judgment-debtor's application under S.12(2), C.P.C. for setting aside such award/decree on ground that all partners had appointed "R" on 25-2-1981 as general attorney of firm dissolved on 25-5-1982, whereafter such power of attorney lost its validity and general attorney had no authority to participate in arbitration proceedings on behalf of firm, thus such award was result of fraud and misrepresentation---Validity---Mere on dissolution of firm, partnership would not come to a complete end, rather same would continue and its partners would continue to perform their duties till winding up of all its matters---General attorney with consent of all partners had performed function after dissolution of firm---Partners had not revoked such power of attorney, thus, whatever had been done by general attorney on behalf of all partners would be considered a valid performance of duty on behalf of firm---­Principal could accept even an unauthorized act done by his agent, which would amount to its validation and ratification---­Decree-holder firm had not challenged authority of its…

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