SOMAYYA
Samuel Nadar – Appellant
Versus
Thangayya Nadar – Respondent
Somayya, J.
1. This is an appeal against the decree of the Subordinate Judge of Devakottai in A.S. No. 31 of 1937. The plaintiff (appellant) filed the suit out of which this second appeal arises for dissolution of a partnership which he and the defendant are said to have been carrying on. The business of the partnership consisted in the running of a chit transaction, both the partners acting as stake-holders. The chit was to be conducted for a period of fifty months. Two prizes were to be taken by the stake-holders and the remaining forty-eight were to be open to the other subscribers. The person who offered the lowest bid was given the prize. The suit has been dismissed by the lower appellate Court as barred by limitation.
2. The chit started on 13th March, 1924 and the fifty months expired on 14th May, 1928. The present suit was filed on 13th February, 1933. If the adventure or undertaking of carrying on a chit fund was completed by the end of the fiftieth month, then there were was a dissolution of the partnership under Section 42 of the Indian Partnership Act. That would be on 14th May, 1928. If there was a dissolution on that date, then under Article 106 of the Second Sc
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.