How to recover from partners, deed vs joint several liability
Divya
(Querist) 21 March 2016
This query is : Resolved
Respected experts
I have a decree against 3 partners and the firm and as per the act all partners are jointly and severally liable as per decree.
But their internal registered partnership deed states that profits or losses will be shared equally between them
I have to execute the decree now. Should I attach 3 different properties of those partners to claim in 1/3Rd ratio from each. Or can I attach the property of any partner to recover entire dues or are properties to be attached on a priority basis and if decree remains unsatisfied through 1St property, the other properties can be attached... Does section 43 of contract act take an upper hand here and does the registered partnership deed have no value for us or for the partners in loss sharing.
Please advise
P. Venu
(Expert) 22 March 2016
What is the opinion of your advocate?
Divya
(Querist) 22 March 2016
Sir,
Advocate says to proceed and attach all assets of partners since decree is for joint and several liability
Rajendra K Goyal
(Expert) 22 March 2016
Proceed for attaching property of all partners.
