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What are the legal rights of partners if they are having conflicts ?


29-Jan-2023 (In Property Law)
A is financially sound,B is less but has business skills. Wanted to do dall business and share profits equally. Bought 1 acre land with joint registration and constructed mill with modern equipment. Business started and earned profits for two years and equally shared. In 3rd year, B thought, with his skills the firm is getting profits, why to share profits equally. So B planned to throw A away and ready to pay rent as per market rate for A's construction share. But rent A gets on construction share is low when compared to cost incurred, so rejected. Another alternative, running mill for 2 years by A alone & then by B on rotation basis. But A is not dared due to lack of skills. A interested to dispose share but B not willing to buy even at mkt rate, since more cost involved when compared to rent, others not coming to buy due to B's nature.That area land rate is high, so A wants his share of land so can make money by selling, more than the cost incurred, but B disagree. A's legal rights?
Answers (1)

Answer #1
547 votes
As a partner in the firm, you are entitled to see and check the book of accounts. If the partner refuses, you can as per the terms of the partnership deed, file a suit for dissolution and rendition of accounts of the partnership.

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