I had entered into partnership by paying a premium. Under the terms of the partnership deed, the said partnership was required to continue for a fixed term but the said partnership was dissolved earlier than that term. Am I entitled to repayment of the premium or any part thereof on account of the premature dissolution of the firm?

I had entered into partnership by paying a premium. Under the terms of the partnership deed, the said partnership was required to continue for a fixed term but the said partnership was dissolved earlier than that term. Am I entitled to repayment of the premium or any part thereof on account of the premature dissolution of the firm?

Where a partner has paid a premium on entering into partnership of a fixed term, and the firm is dissolved before the expiry of the term, otherwise then by the death of the partner, he shall be entitled to re-payment of the premium or of such part thereof, as may be reasonable except where dissolution was due to his own misconduct, or in pursuance of agreement containing no provisions for return of premium, or any part of it.

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