Sale Of Partnership Firm Agreement

18. All employees, such as employees, peonies, accountants, cashiers, sellers and others, are appointed with the common agreement of the contracting parties, and their salaries and salaries are agreed between the contracting parties. This is the easiest way to dissolve a partnership company, since all partners have agreed on the closure of the matching company. Partners may give consensual consent or enter into a dissolution agreement. The adequacy of the restriction depends on the nature of the business. If a partner of the company that manufactures and sells Baakelite products sold the business to the other partner and agreed not to manage similar business within the city of Bombay for three years, the restriction was deemed appropriate in krishnarao v. Shankar. Although the agreement on the dissolution of an insurance company, in which an outgoing partner was prevented from carrying out insurance anywhere except Karachi, was considered unreasonable because the authorization, although unlimited and global, was very limited. Hukmi Chand v. Jaipur Ice – Oil Mills Co. made the most elaborate observations on this aspect of the subject. There was a partnership of six partners.

Two partners left the company and the others continued the transaction until March 31, 1958, when it was dissolved. The company had a factory and a building. On the day of the dissolution a partner Kalicharan retired and received its fortune and 11001 Rs. as a goodwill action. At the time of dissolution, it was agreed between Kalicharan and others, such as Kishanlal, Mahadeo Prasad, Satya Narayan, that the earthly space and the house could be the exclusive property of Kalicharan with full right of purchase and mortgage credit and that Kalicharan could constitute a border wall or have a wire fence and open a separate door on the side of the street. but there could be no entry or exit to the factory site. It was also decided that Kalicharan could not handle the same type of business in the countryside. Kalicharan sold his share to his father for a consideration. Later, Kalicharan`s father, wife and son (Hukum Chand-major son, Rajgopal`s minor son) entered into a partnership to continue business in the countryside.

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