Partnership Act 1866, 15 of 1866, (Rep., Act 9 of 1872)

Section 4. No person receiving by way of annuity or otherwise a portion of the profits of any business, in cons

Repealed or not in force · As amended up to 2026-08

4. No person receiving by way of annuity or otherwise a portion of the profits of any business, in consideration of the sale by him of the good-will of such business, shall, by reason only of such receipt, be deemed to be a partner of, or be subject to, the liabilities of the person carrying on such business.

Source: India Code