Time and alteration of registration

Time of registration:

As to the time of the registration of a firm, there is no define provision in the act however, lays down that no suit to enforce a right arising from a contract can be instituted in any court by or on behalf of a firm against any third party person unless the firm is registered and the persons suing partners in the firm.

Effects of non registration:

1.suits between partners and firm.

2.suits between firm and third parties.

3.claim of set-off.


Alteration:

If any alteration relating to the following matters takes place in the case of a registered firm, astatement or intimation is to be sent to the register of firms for incorporating the necessary change in the registered.

Relations of partners to one another:

The relations of the partners of a partners of affirm to one another are usally governed by the agreement among them. Such agreement among them. Such agreement may be express or may be implied from the course of dealing among them.