Commentary

71.4 Future payment of prior charge

AGRICULTURE vol 2(2)
| Commentary

71.4 Future payment of prior charge

| Commentary

71.4 Future payment of prior charge

The partners may in addition provide for their first charges to roll up and be payable out of the profits of future years if profits in any one year are insufficient, and also for them to make drawings on account of this first charge without being liable for repayment should those drawings prove to be excessive. These points are dealt with in the commercial farming partnership agreement1. It is not thought that either of these entrenching provisions will, simply because of their form, transform what is essentially a fair and proper return

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