CHAPTER III

RELATIONS OF PARTNERS TO ONE ANOTHER

9. GENERAL DUTIES OF PARTNER

Partners are bound to carry on the business of the firm to the greatest common advantage, to be just and faithful to each other, and to render true accounts and full information of all things affecting the firm to any partner or his legal representative.

10. DUTY TO INDEMNIFY FOR LOSS CAUSED BY FRAUD

Every partner shall indemnify the firm for any loss caused to it by his fraud in the conduct of the business of the firm.

11. DETERMINATION OF RIGHTS AND DUTIES OF PARTNERS BY CONTRACT BETWEEN THE PARTNER

1. Subject to the provisions of this Act, the mutual rights and duties of the partners of a firm may be determined by contract between the partners, and such contract may be expressed or may be implied by a course of dealing. Such contract may be varied by consent of all the partners, and such consent may be expressed or may be implied by a course of dealing.

2. Agreements in restraint of trade notwithstanding anything contained in Section 27 of the Indian Contract Act, 1872 such contracts may provide that a partner shall not carry on any business other than that of the firm while he is a partner.