1964 Ed.]
Partnership.
CHAPTER 38.
PARTNERSHIP.
To codify the law relating to partnership.
[CAP. 38
3
[15th May, 1897.]
Originally
2 of 1897. (Cap. 38. 1950.)
50 of 1911.
1 of 1912.
8 of 1912.
5 of 1924.
1. This Ordinance may be cited as the Partnership Ordinance.
(Amended. 5 of 1924, s. 6)
33 & 54 Vict. c. 39.
Short title.
2. In this Ordinance, unless the context otherwise requires "business" includes every trade, occupation, or profession; "court" includes every court and judge having jurisdiction in the case.
NATURE OF PARTNERSHIP.
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 (Amended, 50 of 1911 and 1 of 1912, Schedule)
(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.
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;
(c) the receipt by a person of a share of the profits of a business is prima facie evidence that he is a partner in the business, but the receipt of such a share, or of a payment contingent on or varying with the profits of a business, does not of itself make him a partner in the business; and in particular-
Definition of partnership.
Rules for determining existence of partnership.