JUGAL KISHORE MAHESHWARI Vs. HARI NARAIN

JUDGEMENT

(1.) THIS is an appeal by one of the plaintiffs against a final decree in a suit for dissolution of partnership and rendition of accounts.

(2.) THE partnership business was commenced on 14 -10 -44 under an oral agreement and on 5 -1 -1945 a partnership deed was executed. Jugalkishore was the financing partner and Hari Narain and Makhanlal were the working partners. The shares of Jugal Kishore and Hari Narain were 3/8 each and of Makhanlal 1/4 in the partnership.

(3.) WE are satisfied that the view taken by the trial Court is erroneous. In Halsbury's Laws of England, (Vol. 22 at page 70) the position with regard to partners is stated in the following terms : 'Partners are not, as regards partnership dealings, considered as debtor and creditor inter se until the concern is wound up or until there is a binding settement of the accounts. It follows that one partner has no right of action against another for the balance owing to him until after final settlement of the accounts; but a partner may have a right of action against another for a debt which is independent of the partnership accounts.'