D. 1897.]
(4)
PARTNERSHIP.
(No. 1.
$285
a partner is not entitled, before the ascertainment of profits, to interest on the capital subscribed by him;
(5) every partner may take part in the management of the partnership business;
(6) no partner shall be entitled to remuneration for acting in the partnership business;
(7) no person may be introduced as a partner without the consent of all existing partners;
(8) any difference arising as to ordinary matters connected with the partnership business may be decided by a majority of the partners, but no change may be made in the nature of the partnership business without the consent of all existing partners; and
(9) the partnership books are to be kept at the place of business of the partnership (or the principal place, if there are more places than one), and every partner may, when he thinks fit, have access to and inspect and copy any of them.
27. No majority of the partners can expel any partner, unless a power to do so has been conferred by express agreement between the partners.
Expulsion of partner.
28. (1.) Where no fixed term has been agreed upon for the duration of the partnership, any partner may determine the partnership at any time on giving notice of his intention to do so to all the other partners.
(2.) Where the partnership has originally been constituted by deed, a notice in writing, signed by the partner giving it, shall be sufficient for this purpose.
Retirement from partnership at will.
29. (1.) Where a partnership entered into for a fixed term is continued after the term has expired, and without any express new agreement, the rights and duties of the partners remain the same as they were at the expiration of the term, so far as is consistent with the incidents of partnership at will.
(2) A continuance of the business by the partners or such of them as habitually acted therein during the term, without any settlement or liquidation of the partnership affairs, is presumed to be a continuance of the partnership.
Where partnership for term is continued over, continuance on old terms presumed.
30. Partners are bound to render true accounts and full information of all things affecting the partnership to any partner or his legal representatives.
Duty of partners to render accounts, etc.
Accountability of partners for private profits.
31.—(1.) Every partner must account to the firm for any benefit derived by him, without the consent of the other partners, from any transaction concerning the partnership or from any use by him of the partnership property, name, or business connexion.
D. 1897.]
(4)
PARTNERSHIP.
(No. 1.
$285
a partner is not entitled, before the ascertainment of profits, to interest on the capital subscribed by him;
(5) every partner may take part in the management of the partner-
ship business;
(6) no partner shall be entitled to remuneration for acting in the
partnership business;
no person may be introduced as a partner without the consent of all existing partners;
(8) any difference arising as to ordinary matters connected with the partnership business may be decided by a majority of the partners, but no change may be made in the nature of the partnership busi- ness without the consent of all existing partners; and
(9) the partnership books are to be kept at the place of business of the partnership (or the principal place, if there are more places than one), and every partner may, when he thinks fit, have access to and inspect and copy any of them.
27 No majority of the partners can expel any partner, unless a power Expulsion of o do so has been conferred by express agreement between the partners. partner.
28. (1.) Where no fixed term has been agreed upon for the duration Retirement
from partner of the partnership, any partner may determine the partnership at any ship at will.
me on giving notice of his intention to do so to all the other partners. (2.) Where the partnership has originally been constituted by deed, a otice in writing, signed by the partner giving it, shall be sufficient for this purpose.
29. (1.) Where a partnership entered into for a fixed term is con- nued after the term has expired, and without any express new agree- ment, the rights and duties of the partners remain the same as they were the expiration of the term, so far as is consistent with the incidents of partnership at will.
(2) A continuance of the business by the partners or such of them as abitually acted therein during the term, without any settlement or iquidation of the partnership affairs, is presumed to be a continuance of he partnership.
80. Partners are bound to render true accounts and full information all things affecting the partnership to any partner or his legal repre-
entatives.
Where part- nership for term is. continued
over, continu- ance on old terms presumed.
Duty of partners to render
accounts, etc
Account-
ability of
81—(1.) Every partner must account to the firm for any benefit denved by him, without the consent of the other partners, from any partners for
ansaction concerning the partnership or from any use by him of the private Partnership property, name, or business connexion.
profits.
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