The property of the firm
Commencement. 1932-10-01 (except section 69) 1933-10-01
Section 14 of the Indian Partnership Act, 1932 deals with the property of the firm. Subject to contract between the partners, the property of the firm includes all property and rights and interests in property originally brought into the stock of the firm, or acquired, by purchase or otherwise, by or for the firm, or for the purposes and in the course of the business of the firm, a The Act was enacted on 08 Apr 1932.
Subject to contract between the partners, the property of the firm includes all property and rights and interests in property originally brought into the stock of the firm, or acquired, by purchase or otherwise, by or for the firm, or for the purposes and in the course of the business of the firm, and includes also the goodwill of the business.
Unless the contrary intention appears, property and rights and interests in property acquired with money belonging to the firm are deemed to have been acquired for the firm.
Section 14, The Indian Partnership Act, 1932 (Act 9 of 1932).
Related judgements & precedents
These are some judgments that construed this section, and hold precedence value. They hold authority on how to read, interpret and use this section.
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Rajendra Prasad Jaiswal v. Hotel Alka Raje
Court's Decision & Legal Precedent
Final Order order-2.pdf 2022-03-09 DATE VERIFIED. Attau Rahman Masoodi + Narendra Kumar Johari DB. FA 60/2021. Isolate: Partnership Act s.14 — property brought into the stock of the firm (Hotel Alka Raje land and building contributed by a partner) becomes perpetual property of the firm; the declaration-decree is read in favour of the firm alone, with the deceased partner's share inherited under the last deed. Sachin Jaiswal SC labelled Judgement is reserved ROP — do not attach. Map 14 only.
On this section: Partnership Act s.14 makes property brought into the stock of the firm the perpetual property of the firm; Hotel Alka Raje land and building contributed by a partner is firm property and the declaration-decree is for the firm (Rajendra Prasad Jaiswal).
The holding above is the ratio decidendi as extracted from the judgment by eCourts India, reproduced unaltered — it is a rendering of the court's reasoning, not a substitute for its words. Read the order itself before relying on it.
Questions about Section 14
What have the courts held on Section 14 of the Indian Partnership Act?
Rajendra Prasad Jaiswal v. Hotel Alka Raje (09 Mar 2022) is the leading judgment on this section among those set out below: Partnership Act s.14 makes property brought into the stock of the firm the perpetual property of the firm; Hotel Alka Raje land and building contributed by a partner is firm property and the declaration-decree is for the firm (Rajendra Prasad Jaiswal).
How do I find court cases under Section 14 of the Indian Partnership Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Partnership Act 14, section 14 Partnership Act, section 14 of the Indian Partnership Act. People searching for it also type indian partnership act 1932 section 14. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome. 1 reported judgment on this section is set out on this page, beginning with Rajendra Prasad Jaiswal v. Hotel Alka Raje (09 Mar 2022).
When was Section 14 of the Indian Partnership Act enacted?
Section 14 of the Indian Partnership Act, cited as Partnership Act 14, was enacted on 08 Apr 1932 as Act 9 of 1932. It is in force as at the date shown on this page.
Other sections of this Act
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 15 Oct 2026. This page is not a substitute for legal advice.