Partnership Act, 1932, Section 14 - Partnership property - Property used for partnership purposes is necessarily not the partnership property - Property belonging to a partner does not become partnership property by being used for the purpose of partnership - There must be some evidence of an intention to treat the property as a part of the capital of the business - Where a partner brings certain property into the common stock as part of his capital, it becomes partnership property - Act has also specifically included the goodwill among the partners of the firm subject to any contract between the partners, in all accounts for determining the shares. (M/s.D.R.Associates Vs General Manager, East Coast Railways & Ors.)
Citation: 2005(1) Civil Court Cases 328 (Orissa)
