The main legal point established in the judgment is the interpretation and application of Section 17 of the Registration Act in determining the admissibility of a document in evidence.

Phillips, J.

1. L.P. Appeal No. 42 of 1925:--The only question for consideration in this appeal is, whether the document, Ex. III, is admissible in evidence. It purports to be a kararnamah or release of partnership share and it recites that in consideration of a sum of Rs. 2,100 settled by the mediators, the executant relinquishes his share, title and interest in the partnership business. Admittedly the partnership was possessed of immoveable property and the learned Judge in second appeal has held that as the document is one creating or extinguishing an interest in immoveable property within the meaning of Section 17 of the Registration Act, it requires registration and is therefore inadmissible in evidence as not having been registered. The learned Judge finds that this document is a relinquishment of the executants share in the partnership and that instead of Subba Rao being paid his share of the assets of the partnership, the partners entered into an arrangement by which he purported to release his right in the partnership.

2. Inasmuch as he received a consideration of Rs. 2,100 for this release that amount is clearly the amount settled by the mediators as being the share in the assets of the partnership to which he was at that time entitled. The real question at issue is whether this is a document surrendering an interest in immoveable property. under Section 253 of the Contract Act all partners are joint owners of the partnership property, but the share of each partner in the partnership property is the value of his original contribution increased or diminished by his share of profit or loss, i. e., he can only claim to receive his share of the assets of the partnership after all accounts have been taken. This is clearly shown in a case reported in Sudarsanam Maistri v. Narasimhulu Maistri (1901) I.L.R. 25 M 149 : M L J 353. In that case the plaintiff sued for a share in the partnership which admittedly was possessed of immoveable property and it was held that his suit was barred by limitation. It was argued that in respect of the immoveable property the suit would be in time, although as a suit for dissolution of partnership it was barred by limitation. It was, however, held that the only suit which he could bring would be for winding up the business of the partnership and for distribution of the surplus and not a suit for partition of the partnership properties. Similarly in Gopala Chetty v. Vijayaraghava Chariar (1922) I.L.R. 45 M 378: 43 M L J 305 (P C) it was held by the Judicial Committee that a suit to recover a share in property which fell in after the dissolution of the partnership could not be maintained when the right to sue for an account was barred by limitation. These two cases are certainly authority for holding that a partner as such cannot sue for a specific share in the partnership property, but his only remedy is to sue for taking accounts and ascertainment of his share. A question similar to the present one arose in Jaharmal v. Tejram Jagrup (1893) I.L.R. 17 B 235, where it was held by Jardine, J., that a certain document transferring a share in the assets of a firm which was possessed of immoveable property did not require registration. Telang,J.,however, held the contrary view;Jardine,J.s judgment is based on the English Law which he discussed at great length. Under the English law the share of a partner in the assets of the partnership is undoubtedly personalty and not realty, but it is contended here that that does not conclude the case and that where a document relinquishing a share is executed that document must be registered. The question is not free from doubt in England. There is a case reported in Gray v. Smith (1890) 43 Ch Dn 208 where an agreement to withdraw from a firm was under consideration and it was held by Kekewich, J., that such an agreement required a document under Section 4 of the Statute of Frauds inasmuch as it conveyed an interest in land. In appeal the point was not de