JAGAT NARAYAN, R.D.GATTANI
Jugal Kishore Maheshwari – Appellant
Versus
Hari Narain – Respondent
JAGAT NARAYAN, C.J. : This is an appeal by one of the plaintiffs against a final decree in a suit for dissolution of partnership and rendition of accounts.
2. The partnership business was commeneed on 14-10-44 under an oral agreement and on 5-1-1945 a partnership deed was executed. Jugalkishore was the financing partner and Hari Narain and Makhanlal were the working partners. The shares of Jugal Kishore and Hari Narain were 3/8 each and of Makhanlal 1/4 in the partnership.
3. A sum of Rs. 19,336.65 was owed by Hari Narain to the partnership as he had taken away this sum from time to time out of the partnership money. The trial Court held that this amount was barred by limitation. Against this finding the present appeal has been filed.
4. We are satisfied that the view taken by the trial Court is erroneous. In Halsbury's Laws of England, (Vol. 22 at page 70) the position with regard to partners is stated in the following terms :
"Partners are not, as regards partnership dealings, considered as debtor and creditor inter se until the concern is wound up or until there is a binding settement of the accounts. It follows that one partner has no right of action against another for th
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.