Where a partnership has been formed for the purpose of effecting a specific undertaking or object and a partner in that firm dies, the surviving partners cannot compel the executor of a deceased partner to accept a valuation; he is entitled to a share of the profits found due on completion of the undertaking1. The principles adopted during a partnership with regard to ascertaining what is capital and what is income have been held, upon the construction of the will of a deceased partner, to govern the interest of a deceased partner during the continuance of the business by
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234