query related to partnership act 1932

HARSHAL (Querist) 06 April 2011 This query is : Resolved
I am a sole owner of a liquor shop with license on my name.
4 years back I introduced a partner by taking a XYZ deposit amount from him.
The partnership deed we made is not registered and is made for a term of 5 years.
I want to terminate the partnership now.

Please give suggestions.

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R.Ramachandran (Expert) 06 April 2011
If the partnership is for 5 years, then you cannot terminate the same prior to that, especially when the other partner does not agree forsuch a termination before the expiry of 5 year period.

DEFENSE ADVOCATE.-firmaction@g (Expert) 06 April 2011
yes you are bound by the agreement regd or not.

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