Section 2Definitions

s. 2

2. Definitions In this Act, unless there is anything repugnant in the subject or context,- (a) an "act of a firm" means any act or omission by all the partners, or by any partner or agent of the firm which gives rise to a right enforceable by or against the firm; (b) "business" includes every trade, occupation and profession; (c) "prescribed" means prescribed by rules made under this Act; (d) "third party" used in relation to a firm or to a partner therein means any person who is not a partner in the firm; and (e) expressions used but not defined in this Act and defined in the Contract Act, 1872, shall have the meanings assigned to them in that Act.