Payment of claims of partnership concerns

45-F. Amounts due to a partnership concern which may have fallen due during the, lifetime of a deceased partner may be paid on a claim preferred by the surviving partner or partners even though the representatives of the deceased partner may not have joined in preferring the claim.

A partner of a firm is the agent of the firm for the purposes of the business of the firm. The act of a partner which is done to carry on, in the usual way, business of the kind carried on, by the firm binds the firm provided that such act is done in the name of the firm. The partners may, however, by mutual agreement, restrict the implied authority of any partner to bind the firm and such restriction shall be binding on persons who may be aware of such restriction (sections 18 to 20 and 22 of the Indian Partnership Act IX of 1932).

The provisions of this rule should be observed in the payment of claims due to registered firms.

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