The terpolymer resin p-hydroxyacetophenone- quinhydrone -melamine was synthesized by the condensation of phydroxyacetophenone (0.1M), quinhydrone (0.1M) and melamine (0.1M) in the presence of polyphosphoric acid (PPA). The resin was abbreviated as PAQM-I. The structure of resin was determined by its elemental analysis, UVVIS, IR and NMR data. The molecular weight of terpolymer was determined by non-aqueous conductometric titration technique. The molecular weight of PAQM-I was found to be 6132. The DC conductivity of sample was determined by two probe method. The conductivity of PAQM-I was found to be in range7.411 x 10-5 to 9.712 x 10- 5mho cm-1 for temperature range 300K-378K. The activation energy of conduction for PAQM-I was found to be 3.01 kJ mol-1.