Continuing partners carry on the business with an outgoing partner's share of the firm's property without any final settlement of accounts. If the outgoing partner chooses interest under section 37…

Section 37 of the Indian Partnership Act, 1932 lets the outgoing partner or his estate claim, at his option, either the share of profits attributable to the use of his share of the property or interest at six per cent per annum on that share. Eighteen per cent is the default rate under section 80 of the Negotiable Instruments Act, not this provision.