If losses as well as profits are shared, the presumption of partnership is stronger1. This is so even if the agreement stipulates that each party is to bear only an aliquot share of loss2. The fact that losses are shared is not, however, conclusive as to the existence of a partnership3.
There is no joint ownership, and no partnership, where each of several joint adventurers supplies separate parcels of goods which are to be sold, and the profits are divided rateably among them
**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