Indian Partnership Act, 1932

2. Definitions

In this Act, unless there is anything repugnant in the subject or context,-

1. an act of a firm means any act or omission by all the partners, or by any partner or agent of the firm which gives rise to a right enforceable by or against the firm;
2. business includes every trade, occupation and profession;
3.  prescribed means prescribed by rules made under this Act;
4. third party used in relation to a firm or to a partner therein means any person who is not a partner in the firm; and
5. expressions used but not defined in this Act and defined in the Indian Contract Act, 1872 (9 of1872), shall have the meanings assigned to them in that Act.

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