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Partnership Act 1890 (1890 c 39)

The Partnership Act 1890 lays the foundation for the creation and regulation of partnerships in the UK. It defines a partnership as a relationship between persons carrying on business with a common view of profit. The Act stipulates the rights and duties of partners, including profit sharing, joint liability, and the management of partnership property. It also addresses scenarios such as dissolution and differences arising among partners. This legislation emerged to provide a clear legal framework for partnerships, standardising practices and protecting both partners and third parties involved in business collaborations.

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Partnership Act 1890 (1890 c 39)

The Partnership Act 1890 lays the foundation for the creation and regulation of partnerships in the UK. It defines a partnership as a relationship between persons carrying on business with a common view of profit. The Act stipulates the rights and duties of partners, including profit sharing, joint liability, and the management of partnership property. It also addresses scenarios such as dissolution and differences arising among partners. This legislation emerged to provide a clear legal framework for partnerships, standardising practices and protecting both partners and third parties involved in business collaborations.

Quick and comprehensive access to the most accurate, up-to-date legislation.

��Ӱ�� traffic light system shows the status of legislation and cases so you are always using up-to-date law while historical versioning and legislative timelines lets you see exactly what has changed in legislation over time.

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Partnership Act 1890 (1890 c 39)

1 Definition of Partnership

2 Rules for determining existence of partnership

3 Postponement of rights of person lending or selling in consideration of share of profits in case of insolvency

4 Meaning of firm

5 Power of partner to bind the firm

6 Partners bound by acts on behalf of firm

7 Partner using credit of firm for private purposes

8 Effect of notice that firm will not be bound by acts of partner

9 Liability of partners

10 Liability of the firm for wrongs

11 Misapplication of money or property received for or in custody of the firm

12 Liability for wrongs joint and several

13 Improper employment of trust-property for partnership purposes

14 Persons liable by “holding out”

15 Admissions and representation of partners

16 Notice to acting partner to be notice to the firm

17 Liabilities of incoming and outgoing partners

18 Revocation of continuing guaranty by change in firm

19 Variation by consent of terms of partnership

20 Partnership property

21 Property bought with partnership money

22 < . . . >

23 Procedure against partnership property for a partner's separate judgement debt

24 Rules as to interests and duties of partners subject to special agreement

25 Expulsion of partner

26 Retirement from partnership at will

27 Where partnership for term is continued over, continuance on old terms presumed

28 Duty of partners to render accounts, etc

29 Accountability of partners for private profits

30 Duty of partner not to compete with firm

31 Rights of assignee of share in partnership

32 Dissolution by expiration or notice

33 Dissolution by bankruptcy, death or charge

34 Dissolution by illegality of partnership

35 Dissolution by the Court

36 Rights of persons dealing with firm against apparent members of firm

37 Right of partners to notify dissolution

38 Continuing authority of partners for purposes of winding up

39 Rights of partners as to application of partnership property

40 Apportionment of premium where partnership prematurely dissolved

41 Rights where partnership dissolved for fraud or misrepresentation

42 Right of outgoing partner in certain cases to share profits made after dissolution

43 Retiring or deceased partner's share to be a debt

44 Rule for distribution of assets on final settlement of accounts

45 Definitions of “court” and “business”

46 Saving for rules of equity and common law

47 Provision as to bankruptcy in Scotland

48 < . . . >

49 < . . . >

50 Short title

SCHEDULE < . . . >

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