Commentary

71.3 Review of the prior charge

AGRICULTURE vol 2(2)
| Commentary

71.3 Review of the prior charge

| Commentary

71.3 Review of the prior charge

Where the partnership agreement is terminable on short notice, the landowners can bargain year by year for the amount of their first charge because they have the sanction, in the event of no agreement being reached, of simply terminating the partnership and withdrawing the farm. Where this alternative is not available to them, it is important that the partners agree at the outset the basis on which the annual sum is to be reviewed, for example either annually or perhaps even triennially. Provided the terms of the agreement are such that it is self-evidently

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