Querist :
Anonymous
(Querist) 10 August 2011
This query is : Resolved
I purchased a property from a builder who was registered as a partnership firm. The partnership firm is since dissolved.
Now I have to execute a rectification deed for correction of my flat number. When contacted one of the partners of the firm who happened to execute the deed on behalf of the firm (at the time of purchase) agreed to execute the rectification deed
My question, is whether the rectification deed executed by the partner (even though the firm is dissolved) could be a valid rectification deed ?
If it is valid, are there any documentation required to be insisted upon.
If not, what is the alternative ? Would be grateful for an early response. Thanks in advance
R.Ramachandran
(Expert) 10 August 2011
Dear Anonymous, In the given circumstances, you should thank your stars that he is coming forward to execute the Rectification Deed. Better get it done through him without looking into other technicalities. This I am saying not as an ideal thing, but as a best alternative on the premise that something is better than nothing! It will come in handy in case of future need. Only thing is that while getting the Rectification Deed, the recital has to be appropriately drafted.
ajay sethi
(Expert) 10 August 2011
1)Section 45 of Partnership act provides that notwithstanding dissolution partners of firm continue to be liableto third parties for acts done by any of them which would have been act of firm if done prior to dissolution until public notice is given of dissolution .
2)in your case the partner of firm who has executed the deed is willing to sign the rectification deed .
3)has public notice be een given of dissolution . if no notice given then would be binding
Advocate Rajkumarlaxman
(Expert) 11 August 2011
As stated by our expert they are correct and i agree to same.
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