Outgoing Partner is the partner who is leaving the partnership firm. It can be because of death, expulsion, retirement etc. Incoming Partner: A new partner can be introduced into a firm in the following ways: 1.

Who is called working partner?

a partner in a business who takes an active part in managing it.

Which chapter defines the incoming and outgoing partner?

CHAPTER V- INCOMING AND OUTGOING PARTNERS

(2) Subject to the provisions of Sec. 30, a person who is introduced as a partner into a firm does not there by become liable for any act of the firm done before he became a partner.