Partners may, upon or in anticipation of the dissolution of the firm, make an agreement that some or all of them will not carry on a business similar to that of the firm within a specified period or within specified local limits; and notwithstanding anything contained in section 27 of the Indian Contract Act, 1872 (9 of 1872), such agreement shall be valid if the restrictions imposed are reasonable.
Section 54: Agreements in restraint of trade.
The Indian Partnership Act, 1932Central Act · Act 9 of 1932
Where this provision sits
| Act | The Indian Partnership Act, 1932 |
|---|---|
| Section | 54 |
| Marginal note | Agreements in restraint of trade. |
| Jurisdiction | Central |
| Status | In force as published by the source |
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