Central Act
5
Section 5. Partnership not created by status.
The Indian Partnership Act, 1932
In forceAll India (Central Act)
5. Partnership not created by status. The relation of partnership arises from contract and not from status; and, in particular, the members of a Hindu undivided family carrying on a family business as such, or a Burmese Buddhist husband and wife carrying on business as such are not partners in such business.