CAP. 38]
Partnership.
CHAPTER 38.
PARTNERSHIP.
Originally
2 of 1897.
Fraser.
1 of 1897.
To codify the law relating to partnership.
[15th May, 1897.]
53 & 54 Vict. c. 39.
c.
Short title.
Interpretation.
Definition of partnership.
Rules for determining existence of partnership.
1. This Ordinance may be cited as the Partnership Ordinance.
[47
2. In this Ordinance— "business" includes every trade, occupation, or profession; "court" includes every court and judge having jurisdiction in the case.
Nature of partnership.
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3. (1) Partnership is the relation which subsists between persons carrying on a business in common with a view of profit.
(2) But the relation between members of any company or association which is-
(a) registered as a company under any Ordinance relating to the registration of joint-stock companies;
or
(b) formed or incorporated by or in pursuance of any other Ordinance, or any Act of Parliament, or letters patent, or Royal Charter,
is not a partnership within the meaning of this Ordinance.
[1
4. In determining whether a partnership does or does not exist, regard shall be had to the following rules-
(a) joint tenancy, tenancy in common, joint property, common property, or part ownership does not of itself create a partnership as to anything so held or owned, whether the tenants or owners do or do not share any profits made by the use thereof;
(b) the sharing of gross returns does not of itself create a partnership, whether the persons sharing such returns have or have not a joint or common right or interest in any property from which or from the use of which the returns are derived;
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