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Law and the Economy in Colonial India$
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Tirthankar Roy and Anand V. Swamy

Print publication date: 2016

Print ISBN-13: 9780226387642

Published to Chicago Scholarship Online: May 2017

DOI: 10.7208/chicago/9780226387789.001.0001

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Corporate Law: Flawed Westernization

Corporate Law: Flawed Westernization

Chapter:
(p.142) Eight Corporate Law: Flawed Westernization
Source:
Law and the Economy in Colonial India
Author(s):

Tirthankar Roy

Anand V. Swamy

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226387789.003.0008

Although the joint family covered some aspects of the organization of business firms, it was neither a stable notion nor a comprehensive one in the face of new enterprises formed of unorthodox partnerships and, especially, industrial firms that needed to gather both capital and managerial labor from a much wider pool than the family. The chapter presents a chronological account of the Partnership Act and the Company Act, the response to the needs of firms. The chapter then concentrates on a peculiarly South Asian institution, the managing agency, and shows that even as the Company Acts became progressively more complex, the agency system remained curiously under-legislated.

Keywords:   Partnership Act, Company Act, managing agency

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