A Digest of the Law of Partnership: With an Appendix of Forms

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Stevens, 1900 - Partnership - 217 pages

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Page 91 - A conveyance by a partner of his interest in the partnership does not of itself dissolve the partnership, nor, as against the other partners in the absence of agreement, entitle the assignee, during the continuance of the partnership to interfere in the management or administration of the partnership business or affairs...
Page 2 - Formed or incorporated by or in pursuance of any other Act of Parliament or letters patent, or Royal Charter; or (c) A company engaged in working mines within and subject to the jurisdiction of the Stannaries: is not a partnership within the meaning of this Act.
Page 27 - ... unless the partner so acting has in fact no authority to act for the partnership in the particular matter, and the person with whom he is dealing has knowledge of the fact that he has no such authority.
Page 54 - Provided that where after a partner's death the partnership business is continued in the old firm-name, the continued use of that name or of the deceased partner's name as part thereof shall not of itself make his executors' or administrators* estate or effects liable for any partnership debts contracted after his death.
Page 63 - A continuing guaranty or cautionary obligation given either to a firm or to a third person in respect of the transactions of a firm is, in the absence of agreement to the contrary, revoked as to future transactions by any change in the constitution of the firm to which, or of the firm in respect of the transactions of which, the guaranty or obligation was given.
Page 76 - A partner is NOT entitled before the ascertainment of profits to interest on the capital subscribed by him. (5) Every partner may take part in the management of the partnership business.
Page 122 - ... (1) Where any member of a firm has died or otherwise ceased to be a partner, and the surviving or continuing partners carry on the business of the firm with Its capital or assets without any final settlement of accounts as between the firm and the outgoing partner or his estate, then, in the absence of any agreement to the contrary, the outgoing partner or his estate is entitled at the option of himself or his representatives to such share of the profits made since the dissolution as the court...
Page 131 - Losses, including losses and deficiencies of capital, shall be paid first out of profits, next out of capital, and lastly, if necessary, by the partners individually in the proportion in which they were entitled to share profits. (b) The assets of the firm, including the sums, if any, contributed by the partners to make up losses or deficiencies of capital, shall be applied in the following manner and order: 1.
Page 36 - Where one partner pledges the credit of the firm for a purpose apparently not connected with the firm's ordinary course of business the firm is not bound, unless he is in fact specially authorized by the other partners; but this section does not affect any personal liability incurred by an individual partner.
Page 21 - Act called collectively a firm, and the name under which their business is carried on is called the firm name.

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