Delhi Court April 1975 Judgments
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S.N. Soni Vs. Taufiq Farooki Etc.
Court: Delhi
Decided on: Apr-02-1975
Reported in: AIR1976Delhi63; 1976RLR103
B.C. Misra, J. (1) RESPDT. 4 was a partnership entered on 6-2-65 which carried on business of advancing loans. Appellant, Respdts 2 & 3 executed on 9-6-66 pro-note for Rs. 1,000.00 in its favor. A partner, Krishn Avtar gave notice of retirement on 15-12-66. Firm was dissolved and he was separated on 15-12-66. Firm owed Rs. 550.00 to Respdt. 1. Krishan Avtar in lieu of Rs. 550.00 assigned firm's pro-note of Rs. 1,000.00 to Respdt. 1. Latter filed a suit for Rs. 1,000.00 and interest. Trial Court dismissed the same. A.D.J. in 1st appeal allowed additional evidence under 0. 41 Rs. 27, Civil Procedure Code which showed that Krishan Avtar had authority to assign. Appellant filed 2nd appeal. After narrating these facts, Judgment para 6 onwards is : (2) Mr. Bagga contends firstly that section 19(2)(c) of the Partnership Act prohibits an implied authority of a partner to extend to compromise or relinquish any claim or portion of a claim by the firm. Secondly, the authority, if any, which has b...
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