Section 43 of indian contract act
Dr.Gaurang N. Gandhi
(Querist) 19 July 2016
This query is : Resolved
Dear Experts,
A, B ,c and D were running a partnership firm. in 1999 C & D leave the firm and Made an agreement that the firm will give him 10 lakhs INR. and the partnership firm will continued by A & B. In the said agreement it was agreed that 2 lakhs out of 10 lakhs paid only when XYZ a debtor will pay to the firm. So 8 lakhs paid to C,D.
Now in 2003 the partnership firm dissoluted. A take over all business and become sole proprietor.
In 2014 A died. C and D were unawre about whether the XYZ has paid the debt or not, Till death of A.
In 2014 after death A, c & D filed a suit agauinst B only for the remaining amount. the legal representative of my client A is not joined.
Now C & D filed an application to join the legal representative of A in the suit.whether is tanable? The matter is reached to Plaintiff evidence.
P. Venu
(Expert) 20 July 2016
A, B, C, D - why this algebra? Please post your real problem, if any?
Dr J C Vashista
(Expert) 21 July 2016
Generally agreements do not contain such (conditional) clause as stated; if it has been incorporated, it may render it null and void.
What is covenented in the agreement is required to be analysed by a local lawyer for forming proper opinion.
Rajendra K Goyal
(Expert) 22 July 2016
Full case file and documents need to be referred, discuss with your lawyer.
Hemant Agarwal
(Expert) 19 May 2017
1. FIRSTLY, a registered "partnership deed" can be dissolved ONLY after clearing the debts /liabilities, in its balance sheet.
2. SECONDLY, the debtor liability is towards a "Partnership Firm", which is now defunct. The individual non-existing partner cannot be sued, subject to point no. 1 (above).
Keep Smiling .... Hemant Agarwal
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Guest
(Expert) 19 May 2017
Agree with Experts
