Negotiable Instruments: Exhaustive Coverage by Adv Roma Bhagat. Register Now!
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Payel Nandi (LAW STUDENT)     11 June 2010

firm

can a firm be considered as a person?why?



Learning

 3 Replies


(Guest)
Ya,a firm is recognised as a legal person,n in the eye of law a legal person is regards as capable of rights n duties and bcoz of this a firm can be sue or be sued upon.

Devajyoti Barman (Advocate)     11 June 2010

NO, partnership fim is never considered as a legal person . Firm is merely a collective name of individuals who have entered into partnership. A firm does not have a personality apart from the partners.

The Supreme Court in D.Laxminarayan vs. Commissioner had cleared this point by holding that a firm name is merely an expression,only a compendious mode of designating the person who have agreed to carry on business in partnership.

Both English law and Indian law in this respect is same.

M/s. Y-not legal services (Advocate)     09 September 2010

i am agree with the above expert. its simple and clear explaination.

1 Like

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register