Law: Partnership Act (IX of 1932)

Section: 13(b), 8, 42

Law: Limitation Act (IX of 1908)

Section: 106

(a) Partnership Act (IX of 1932) S. 13(b) - Partnership - Suit for accounts - Plaintiff receiving all account books of firm three years before filing of suit and such accounts audited not only by Chartered Accountants but also by his own employee and balance-sheet prepared-Plaintiff in circumstances, held, knew what was due to him and as such should have sued for amount due to him-Suit for account, accordingly, not maintainable. (b) Partnership Act (IX of 1932) S. 8-Partnership, duration of - Partnership deed clearly stating formation of partnership to run . agency acquired by plaintiff at a particular station from a particular company - Partnership having been formed only for running a particular agency, partner ship, held, formed for running a single venture and could continue only as long as such agency lasted-Partners if wishing to carry on partnership on expiry of agency for running some other business, could do so only by a fresh agreement. (c) Partnership Act (IX of 1932) S. 8-Words and phrases-Words "adventure" and "undertakings" Neither word means something of very short duration-Meanings and scope of words.-[Words and phrases]. The Oxford Dictionary gives several meanings to the word "adventure", one of which reads: "A pecuniary risk, a venture, a speculation, a com mercial enterprise". A venture, or, a speculation, or, a commercial enterprise may go on for many years, therefore it cannot be argued that the word "adventures" in section 8 connotes an enterprise of a short duration. Then, as to the word "undertakings", the relevant meaning in the Oxford Dictionary is enterprise, whilst the relevant meaning of the word "enterprise" reads: "The action of taking in hand; management; superintendence'. Obviously, neither of these words can be restricted to mean something of very short duration. (d) Partnership Act (IX of 1932)  Ss. 8 & 42-Firm, dissolution of-Hardship, plea of-Activities for which firm constituted coming to end, firm cannot function and stands dissolved on its own death-Contention that it would be very harsh if a firm having run for many years could be…