Public Notice in case of Partnership

You leave a WhatsApp group for a friends' business and tell nobody except the admin. Two months later a supplier who never saw your message sends the group a bill. Is it still your problem? Business law asks the same question about partners. A partner who retires, a firm that dissolves, a minor who grows up: the outside world does not know until it is told. The Indian Partnership Act 1932 therefore creates a special kind of announcement, called public notice, and ties the end of your liability to it.

In two minutes

Public notice is the formal announcement that ends an outgoing partner's liability to outsiders for later acts of the firm; under s.72 it is given by publication in the Official Gazette and a local vernacular newspaper, and for a registered firm also by notice to the Registrar under s.63.

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