Validity of deed prepared on the basis of letter of a partner

Querist : Anonymous (Querist) 19 August 2011 This query is : Resolved
Dear Sirs

Pls let me know whether a Deed Prepared in the following grounds is valid or not in law

1. Partnership consist of 6 Partners

2. Deed Executed by them 10 years ago but not registed with Registrar of firms

3. Last month due to some internal problem one of the partner send a letter to banks and finalacial institutions and creditors that he is now not associated with the firm from the date mentioned in the letter and he is not liable any dues after the date.

4. The Partnership is at will

5.Based on the letter the other partners prepared a new deed and signed except the said partner and specifed in the deed that the deed is preapred on the basis of his letter

My doubt is whether this deed has any validity

Thanks in advance

Follow Query

Report Abuse

ashok kumar singh (Expert) 19 August 2011
valid one, registration is optional, under the Law.

Devajyoti Barman (Expert) 19 August 2011
Yes , perfectly valid.

Querist : Anonymous (Querist) 20 August 2011
Thank you sir

But still I have doubt is instead of signature of the Partner who send the letter reference is given to his letter in the deed. will it make the deed invalid

M V Gupta (Expert) 20 August 2011
As the Partner who wrote the letter has resigned (check whether he had submitted the resigantion letter to the Firm) his signature is not necessary. The reference is only to indicate the circumstance in which the earlier Frim got dissolved, necessitating the reconstitution of the Firm. Get the new firm registered with the Registrar of Firms in order to escape the restrictions imposed in the Partnership Act in the matter of filing suits aginst third parties who commit breach of contracts made with the Firm etc.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries