PARTNERSHIP ACT 1895 Partnership Act 1895
Table of Provisions
PART IA -- Preliminary
- 1 Short title
- 2 Commencement
- 3 Terms used in this Act
- 4 Application of Act
- 6 Present law to continue except as modified
PART I -- Nature of partnership
- 7 Meaning of “partnership”
- 8 Rules to apply in determining partnership
- 9 Seller of business to be deferred to other creditors for value
- 10 Meanings of “firm” and “firm-name”
- 11 Number of persons in firm
- 12 Choice of firm-name
PART II -- Relations of partners to persons dealing with them
- 13 Partners bound by acts of firm
- 14 Partner using credit of firm for private purposes
- 15 Effect of notice that firm will not be bound by act of partner
- 16 Liability of partners
- 17 Liability of firm for wrongs
- 18 Misapplication of money or property
- 19 Liability for wrongs, joint and several
- 20 Improper employment of trust property
- 21 Persons liable by “holding out”
- 22 Admissions and representations by partners
- 23 Notice to acting partner to be notice to firm
- 24 Liabilities of incoming and outgoing partners
- 25 Revocation of continuing guaranty
- 26 Special powers of partners
- 27 Special powers of partners in certain firms
- 28 Enforcing judgments against partners and partnerships
PART III -- Relations of partners to one another
- 29 Terms of partnership may be varied by consent
- 30 Meaning of “partnership property”
- 31 Property bought with partnership money
- 32 Conversion of real into personal estate
- 33 Meaning of “partner’s share”
- 34 Rules as to interests, rights and duties of partners
- 35 Expulsion of partner
- 36 Retirement of partner where fixed term
- 37 Retirement from partnership at will
- 38 Where partnership continued after expiration of term
- 39 Partners to render accounts
- 40 Partners must account for all benefits derived
- 41 Partner must not compete with firm
- 42 Effect of assignment of partner’s share
PART IV -- Dissolution of partnership and its consequences
- 43 Dissolution by expiration of notice
- 44 Dissolution by death, bankruptcy, assignment or charge
- 45 Dissolution by illegality of partnership
- 46 Dissolution by court
- 47 Rights of creditors against apparent members of firm
- 48 Partner may notify of dissolution
- 49 Authority for purposes of winding up
- 50 Application of partnership property
- 51 Sale of goodwill on dissolution
- 52 Use of firm-name may be restrained
- 53 Provision where premium paid
- 54 Lien on assets where partnership dissolved for fraud
- 55 Right of outgoing partner in certain cases to share profits made after dissolution
- 56 Retaining of deceased partner’s share to be a debt
- 57 Rules for distribution of assets on final settlement of accounts Defined terms
[Heading inserted: No. 19 of 2010 s. 44(2).]