Victorian Consolidated Legislation

Partnership Act 1958 - SECT 33

Accountability of partners for private profits

33. Accountability of partners for private profits



(1) Every partner must account to the firm for any benefit derived by him
without the consent of the other partners from any transaction concerning the
partnership or from any use by him of the partnership property name or
business connexion.

(2) This section applies also to transactions undertaken after a partnership
has been dissolved by the death of a partner and before the affairs thereof
have been completely wound up either by any surviving partner or by the
representatives of the deceased partner.