Our partnership firm, operating under a notarized agreement, had a practice where any partner could issue a cheque from our current account. We used this to pay a loan with a post-dated cheque. The partnership has now dissolved, and the cheque bounced. Who is responsible for this payment: all the partners, or just the one who signed the cheque?

Apni Law
Apni Law
Law Forum › Category: Cheque Bounce › Our partnership firm, operating under a notarized agreement, had a practice where any partner could issue a cheque from our current account. We used this to pay a loan with a post-dated cheque. The partnership has now dissolved, and the cheque bounced. Who is responsible for this payment: all the partners, or just the one who signed the cheque?
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Apni Law Staff asked 1 year ago

Our partnership firm, operating under a notarized agreement, had a practice where any partner could issue a cheque from our current account. We used this to pay a loan with a post-dated cheque. The partnership has now dissolved, and the cheque bounced. Who is responsible for this payment: all the partners, or just the one who signed the cheque?

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Best Answer

Apni Law Staff answered 1 year ago

Under Indian law, all partners are jointly and severally liable for the debts of the partnership, even after dissolution. Thus, all partners are responsible for the bounced cheque, regardless of who signed it.

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