Recovery suit against partnership
Recovery suit against partnership legal meaning, translation and judicial precedents.
Meaning & Judicial Interpretation: (اردو مفہوم اور قانونی تشریح)
Partner having dispute with other partners in the partnership-firm wrote to bank that he would not be liable for any future financing/loan made to the firm
Subsequent to such letter other partners took out a loan from the bank
Effect
Despite the letter partner in question remained a partner in the firm throughout, as there was no proof of dissolution instrument or other legal mode to show that partnership firm had been dissolved
Partner in question would remain jointly and severally liable for the loan taken out by other partners despite the letter written to the bank and despite having a dispute with the other partners could not be exonerated and discharged of his liability as partner of the firm, till the time the firm remained intact
Appeal was dismissed accordingly.
"Recovery suit against partnership", Pakistan Law Portal, available at: https://paklawportal.com/words-terms-maxims/124952924
Precedents & Case Laws citing "Recovery suit against partnership"
2015 C L D 158
MUHAMMAD AHMED KHAN — Appellant Versus The BANK OF PUNJAB and others — Respondents
Court: Supreme Court of Pakistan2015 S C M R 126
MUHAMMAD AHMED KHAN — Appellant Versus The BANK OF PUNJAB and others — Respondents
Court: Supreme Court of Pakistan2008 C L C 444
LAKHANI TEXTILE INTERNATIONAL through Partner — Plaintiff Versus Messrs SOUTHERN AGENCIES (PVT.) LTD. — Defendant
Court: KarachiP L D 1990 Lahore 111
Messrs UNITED BANK LTD.‑‑Plaintiff Versus Messrs IFTIKHAR AND COMPANY and 6 others‑‑Defendants
Court:1986 M L D 1762
ALLIED BANK OF PAKISTAN Ltd.‑‑Plaintiff Versus Messrs ORIENTAL SEAFORD PRODUCTS and 23 others Defendants
Court: Karachi1989 M L D 2795
SULTAN AHMAD KHAN — Petitioner Versus THE STATE — Respondent
Court: Lahore2007 C L D 501
Chaudhry MUKHTAR AHMAD — Appellant Versus NATIONAL BANK OF PAKISTAN and others — Respondents
Court: LahoreP L D 1976 Quetta 9
Seth HUSSAIN BHAI-Plaintiff-Petitioner Versus MUHAMMAD IQBAL AND 2 OTHERS-Defendants-Respondents
Court: -- S. 8-Words and phrases-Words "adventure" and "undertakings" Neither word means something of very short duration-Meanings and scope of words.-Words and phrases.1987 C L C 617
Syed ABDUL MAJID‑‑Plaintiff Versus Choudhry MANZOOR‑‑Defendant
Court: Karachi2024 C L D 100
RABEAH HUSSAIN and 3 others — Appellants Versus NUSRAT AFTAB and 6 others — Respondents
Court: Lahore