The Indian Partnership ACT

S.No.List of DoctrinesMeaningSection Number/Topic
 1Principle of Sharing of profitsThe division of profits is an essential condition of partnership. Every man who received any portion of the profits of a business had to incur therein the liability of a partner.Section 4
 2Principle of Mutual agencyThe definition of partnership provides that business is carried by all or any of them acting for all.Section 4
 3Principle of absolute good faithThe partners are bound to carry on the business of the firm to the greatest common advantage. They are expected to be just and faithful to each other.Section 9
 4Conventio et modus vincunt legemA contract and agreement overcome the law.Section 12
 5Doctrine of implied authorityAn act of a partner done as an agent in the usual course of business is the act of the firm and it binds the firm.Section 19
 6Doctrine of Holding outLiability by holding out arises when a person is in fact not a partner but he is held liable as if he is a partner.Section 28
 7Acta Exteriora Indicant Interiora SecretaOutward acts indicate the inward intentSection 28
 8Nemo Contra Factum Suum Venire PotestNo man can contradict his own deedSection 28
 9Ejusdem generisOf the same class or kind.Section 69