Indian Partnership Act : DEFINITION OF "PARTNERSHIP", "PARTNER", "FIRM" AND "FIRM NAME" Indian Bare Acts :

Indian Partnership Act,1932

Act No : 9

Section : DEFINITION OF "PARTNERSHIP", "PARTNER", "FIRM" AND "FIRM NAME"

SECTION 04: DEFINITION OF "PARTNERSHIP", "PARTNER", "FIRM" AND "FIRM NAME"
"Partnership" is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all.
Persons who have entered into partnership with one another are called individually "partners" and collectively a "firm", and the name under which their business is carried on is called the "firm name".