Section 50Chapter VI
Personal profits earned after dissolution
DISSOLUTION OF A FIRM
Subject to contract between the partners, the provisions of clause
(a)
of section 16 shall apply to transactions by any surviving partner or by the representatives of a deceased partner, undertaken after the firm is dissolved on account of the death of a partner and before its affairs have been completely wound up:
Explanation
Provided that where any partner or his representative has bought the goodwill of the firm, nothing in this section shall affect his right to use the firm name.