Subject to any express or implied agreement, each partner is entitled to be indemnified by his firm out of its assets, or by way of contribution by his partners, in respect of payments made and personal liabilities incurred by him in the ordinary and proper conduct of the partnership business1, or in or about anything necessarily done for the preservation of the firm's business or property2. The right extends to expenditure for partnership purposes made with the express or implied consent of the other partners3; and it is immaterial that the expenditure proves to be useless or unprofitable if
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Dividends involve a distribution of cash or a distribution of non-cash assets (known as a distribution in kind or a distribution in specie).A scrip dividend (in a tax context, sometimes referred to as a stock dividend) allows a shareholder to receive new shares in a company as an alternative to a
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