Victorian Consolidated Legislation

Partnership Act 1958 - SECT 40

Rights of persons dealing with firm against apparent members of firm

40. Rights of persons dealing with firm against apparent members of firm



(1) Where a person deals with a firm after a change in its constitution he is
entitled to treat all apparent members of the old firm as still being members
of the firm until he has notice of the change.

(2) An advertisement in the Government Gazette and in at least one newspaper
circulating in each district in which the firm carries on business as to a
firm whose principal place of business is in Victoria shall be notice as to
persons who had not dealings with the firm before the date of the dissolution
or change so advertised.

(3) The estate of a partner who dies or who becomes bankrupt or of a partner
who not having been known to the person dealing with the firm to be a partner
retires from the firm is not liable for partnership debts contracted after the
date of the death bankruptcy or retirement respectively.