Judgement

Appeal (No. 12 of 1943) from a decree of the High Court (May 9, 1940), which varied a decree of the Subordinate judge of Delhi (April 28, 1938).

The suit which gave rise to this appeal was brought by the first respondent against the second respondent and the appellant for dissolution of partnership and for accounts. On December 3, 1929, a deed of partnership was executed by the first and second respondents and the wife of the appellant. The business of the partnership was described as that of " hosiers, milliners, dressmakers, tailors and outfitters, etc." and was to begin from November 1, 1929, and " should continue unless otherwise determined by the mutual " agreement of the partners or by operation of law." The partnership deed provided " (5) The capital of the partnership shall consist of Rs. 90,000 to be subscribed by the " partners in equal shares .... (7) The net profits of the " business shall be divided in equal shares between the " partners .... (10) That it is understood that the third “partner enters into partnership with the first and second " partner in the present running concern. The third partner " does not in any way stand responsible for any profit or l