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Partnership & Contract Act

Partnership Act

Partnership act governs the business of trade, occupation and profession conducted by the partner registered under the provisions of law. There are some duties and right for which partners can be agreed in writing just like profit or loss, working, working partner, sleeping partner or the partners can authorize any one partner to act or conduct on behalf of the firm.

Contract Act

The provisions of a valied contract and between whom the contract can be made and for which purposes it can be made and what are the contracts which are valied and voidable and not enforceable by law. A party proposes and other party accept the same be comes a contract. Some contracts can be enforced by law and some contract can not be enforced by law. A valied contract which is made for aa legal purpose and between the parties who are major , not a lunatic , consideration should be lawful, with free consent not under complesion or by 
playing Frand or misrepresentation can be made. In case if either party minor only the legal guardian or guardian declared by court may made contract for the benefit of minors person and property.
 
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