A person who has an option to enter a partnership must comply strictly with the conditions of the option1. He must make his election within the time fixed2, and, if no time is fixed, the option is lost unless it is exercised within a reasonable time3. Before making his election, he is entitled to have a reasonable time for inspecting the affairs of the partnership, but not to have the accounts formally taken4. Before his option is exercisable, he cannot prevent the partnership being dissolved by the mutual consent of the partners
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