Commentary

64 The default code in the Partnership Act 1890

BUSINESSES vol 4(2) start-up, sale and purchase
| Commentary

64 The default code in the Partnership Act 1890

| Commentary

64 The default code in the Partnership Act 1890

The Partnership Act 1890 contains a default code which is designed to provide rules to govern the relationship of the partners in a general partnership, both amongst themselves and with those parties dealing with the partnership. In almost all cases, these default rules are subject to any contrary agreement between the partners.

The default code therefore forms the context against which any express partnership terms will need to be formulated. It follows that a sound understanding of the Partnership Act 1890 is vital to ensure effective drafting of any partnership

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