The document discusses key aspects of partnership contracts and firms under Indian law. It defines a partnership as an agreement between two or more persons to share profits of a business. A partnership firm is not a legal entity under law. The document outlines essential elements of a partnership like mutual agency between partners, their rights and duties, and consequences of dissolution like continuing liability of partners.
![[object Object],[object Object],[object Object],[object Object],[object Object],Partnership Act 1932](https://image.slidesharecdn.com/partnership-act-1932-1216310200797466-9/85/Partnership-Act-1932-1-320.jpg)
![Definition of partnership ,[object Object],[object Object],[object Object],[object Object],[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)