The Indian Partnership Act, 1932 in One Shot | CA Foundation | Law & BCR 🔥

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Timestamps-
00:00 Start
00:01:25 – 00:03:31 – Introduction
00:03:31 – 00:14:49 – Why Partnership?
00:14:49 – 01:19:32 - Essential Elements of Partnership / True Test of partnership
01:19:32 – 1:52:50 - Types of partners
01:52:50 – 02:01:39 - Kind of partnership
02:01:39 – 02:31:15 Partnership V/s other Associations
02:31:15 – 02:52:14 – Registration of Firm
02:52:15 – 03:15:54 Disability on Non-registration of firm & exceptions
03:15:54 – 04:20:02 - Dissolution of Firm
04:20:02 – 05:22:36 - Reconstitution/ Admission/ Retirement/Death/insolvency/expulsion
05:22:36 – 05:39:44 - Admission of Minor as beneficiary
05:39:44 – 05:48:03 Rights of Transferee
05:48:03 – 06:17:34 - Rights & duties of a partner
06:17:34 –06:42:25 - Partnership Property & its application
06:42:25 – 07:19:10 - Mutual Agency & Implied Authority

📌 Business Laws and BCR One Shot Lectures - CA Foundation | Chanakya
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Timestamps-
00:00 Start
00:01:25 – 00:03:31 – Introduction
00:03:31 – 00:14:49 – Why Partnership?
00:14:49 – 01:19:32 - Essential Elements of Partnership / True Test of partnership
01:19:32 – 1:52:50 - Types of partners
01:52:50 – 02:01:39 - Kind of partnership
02:01:39 – 02:31:15 Partnership V/s other Associations
02:31:15 – 02:52:14 – Registration of Firm
02:52:15 – 03:15:54 Disability on Non-registration of firm & exceptions
03:15:54 – 04:20:02 - Dissolution of Firm
04:20:02 – 05:22:36 - Reconstitution/ Admission/
05:22:36 – 05:39:44 - Admission of Minor as beneficiary
05:39:44 – 05:48:03 Rights of Transferee
05:48:03 – 06:17:34 - Rights & duties of a partner
06:17:34 –06:42:25 - Partnership Property & its application
06:42:25 – 07:19:10 - Mutual Agency & Implied Authority

[rishikajaiswal]

Anyone for June 2024 rise your hand ✋ by like 👍

[PrashantThakur-xrfc]

Kya fyada kahi or se coaching lene ka jab law inse hi padhna h ❤️

[studentoficai_]

•partnership property 06:17:34
•Personal profit earned by partners 6:32:00
•Implied authority of partners as agent of the firm (section 19) 6:51:18
•Extension and ristriction of partners implied authority ( sec20). 6:59:03
• liability to third persons (sec 25 to 27) 7:13:22
• rights of transferee of partner's interest (sec29)
• minors admitted to the benefits of partnership (sec30) 5:22:38
• legal consequences of partner coming in amd going out sec( 31-35) 4:19:33

[bhuvanraj]

Thanks to your lectures i finally cleared CA foundation in june 2023 with 210 marks law: 41 i am really happy . Thank you sir. 💯💯

[bhuvanraj]

If I pass in paper 2 it's because of your teaching please continue to guide us till exams, thank you sir 💯

[Sigmamtelity]

2:58:50
If ABC & Co. Is registered it can suit DEF & Co.
If DEF & Co. Is registered it can suit ABC & Co.
Because they both firms are registered by ROF

[Sigmamtelity]

The dhinchak Pooja admission means dissolution is compulsory 😂😂😂

[sambhavverma]

DEC 2023 ke liye jo aaya hai revision ke liye attendace la do
aur jiska phela attempt hai voh bhi pass ho aur jiska dusra hai voh bhio

[THEDRCHANNELOFFICAL]

Thank you sir for sharing another wonderful lecture with us 👌
I hope all topics are covered in this lecture 🤞

[sanjanasingh-shyk]

after watching the Sales of Goods Act, I hoped to find more law-subject videos. really grateful to have such good teachers on YT.

[amitnegigurgaon]

Registration of firm 2:31:15
Consequence of non-registration 2:52:12
Retirement of partner 4:22:12
Expulsion of Partner 4:36:00
Rights & Duties of partner 5:55:40

[sonushirsat]

Maturity Is What When You Realised Pw Is Not An Company Its An 8000 CR VALUATED COMPANY that i Realised Today!

[PrathamSaini-qt]

2:58:51 Yes Both ABC and Co. and DEF and Co can file case against each other as both are Registered firm...

[ca_aspirant.]

Timestamps-

00:00 Start

00:01:2500:03:31 Introduction

00:03:31 00:14:49 Why Partnership?

-

-

00:14:49 01:19:32 Essential Elements of

Partnership / True Test of partnership

01:19:32 1:52:50 Types of partners

01:52:50 02:01:39 Kind of partnership 02:01:39 02:31:15 Partnership V/s other Associations

-

02:31:15 02:52:14 Registration of Firm

02:52:15 03:15:54 Disability on Non-registration of

firm & exceptions

03:15:54 04:20:02 Dissolution of Firm

04:20:02 05:22:36 Reconstitution/Admission/

-

05:22:36 05:39:44 Admission of Minor as beneficiary

05:39:44 05:48:03 Rights of Transferee -

05:48:03 06:17:34 Rights & duties of a partner 06:17:34-06:42:25 Partnership Property & its

-

-

application

06:42:25 07:19:10 Mutual Agency & Implied Authority

[Mystupidheart-lo]

Case study no 3 2:59:06
a, yes
b, yes

[B.S-BBL]

THE INDIAN PARTNERSHIPACT, 1932
Registration of Firm
Registration : Under Section 58 of the Indian Partnership Act, 1932, a firm may be
registered at any time (not merely at the time of its formation but subsequently also) by
filing an application with the Registrar of Firms of the area in which any place of
business of the firm is situated or proposed to be situated.
It is optional for partners to get the firm registered and there are no penalties for non
registration. Section 69 of the Act which deals with the effects of non-registration
denies certain rights to an unregistered firm. Under the Act : (a) A partner of an
unregistered firm cannot file a suit in any court against the firm or other partners for
the enforcement of any right arising from a contract or right conferred by the
Partnership Act unless the firm is registered and the person suing is or has been shown
in the Register of Firms as a partner in the firm. (b) No suits to enforce a right arising
from a contract shall be instituted in any court by or on behalf of a firm against any
third party unless the firm is registered and the persons suing are or have been shown
in the Register of Firms as partners in the firm. (c) An unregistered firm or any of its
partners cannot claim a set of (i.e. mutual adjustment of debts owed by the disputants
parties to one another) or other proceedings in a dispute with a third party. Hence,
every firm finds it advisable to get itself registered sooner or later.
Is registration of a partnership firm mandatory?
What are the consequences of non-registration?
Registration of a partnership firm is not mandatory under law. The Partnership Act, 1932 provides that if
the partners so desire may register the firm with the Registrar of Firms of the state in which the firm’s
main office is situated. A partnership firm may be registered at the time of formation or at any time
thereafter.
Procedure for partnership Registration


In order to get a partnership firm registered, an application in a prescribed form must be filled with the
Registrar of Firms. The application should contain the following information:
1. The name of the firm
2. The principal place of business of the firm
3. Names of other places where the firm’s business is carried on. Ads by ADVERTISEMENT Ads by
4. Names in full and permanent addresses of the partners.
5. The date on which each partner joined the firm
6. Duration of partnership, if any.
The application should be signed and verified by each partner, then it is to be submitted to the Registrar
of Firms of the area in which the main office of the firm’s business is situated or proposed to be
situated.
The registration fee is also deposited along with the application.
After the submission of the application, the registrar will examine the application. If he is satisfied that
everything is in order and all the legal formalities have been observed, he will make an entry in the
register of firms. He will also issue a certificate of registration.
Any change in the information submitted at the time of registration should be communicated to the
Registrar.
Consequences of Non- Registration of partnership
The consequences of a partnership firm which is not registered are as follows:
1. It cannot enforce its claims against the third party in a court of law.
2. It cannot file a legal suit against any of its partners
3. Partners of an unregistered firm cannot file any suit to enforce a right against the firm.
4. A partner of an unregistered firm cannot file suit against other partners.
5. It cannot claim adjustment for any sum exceeding Rs. 100. Suppose an unregistered firm owes Rs.
1200 to X and X owes Rs.1000 to the firm. The firm cannot enforce an adjustment of Rs.1000 in a court
of law.
Rights not affected by Non- registration of a Partnership firm



Non- registration of a firm, however, does not affect the following rights:
1. The right of a partner to sue for the dissolution of the firm or for the accounts of a dissolved firm or
to enforce any right or power to realize the property of a dissolved firm.
2. The power of an official assignee or receiver to realize the property of an insolvent partner.
3. The rights of the firm, or its partners, having no place of business in India.
4. Any suit or set off in which the claim does not exceed rupees hundred.
5. The right of a third party to sue the unregistered firm or its partners.
6. The right to sue a third party for infringement of a patent right. The Indian Partnership Act, 1932 has
effectively ensured the registration of a partnership firm without making it compulsory.

[PrathamSaini-qt]

1:05:20
1 no
2 no
3 YES
4 NO
5 NO
6 Yes
7 Yes as all combine to form a single new firm

[rishikajaiswal]

Best teacher in whole YouTube for law 👍