Partnership Act 1890

Nature of Partnership

1Definition of partnership

2Rules for determining existence of partnership

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

4Meaning of firm

Relations of Partners to persons dealing with them

5Power of partner to bind the firm

6Partners bound by acts on behalf of firm

7Partner using credit of firm for private purposes

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

9Liability of partners

10Liability of the firm for wrongs

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

12Liability for wrongs joint and several

13Improper employment of trust-property for partnership purposes

14Persons liable by "holding out"

15Admissions and representations of partners

16Notice to acting partner to be notice to the firm

17Liabilities of incoming and outgoing partners

18Revocation of continuing guaranty by change in firm

Relations of Partners to one another

19Variation by consent of terms of partnership

20Partnership property

21Property bought with partnership money

22Conversion into personal estate of land held as partnership property

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

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

25Expulsion of partner

26Retirement from partnership at will

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

28Duty of partners to render accounts, &c

29Accountability of partners for private profits

30Duty of partner not to compete with firm

31Rights of assignee of share in partnership

Dissolution of Partnership, and its consequences

32Dissolution by expiration or notice

33Dissolution by bankruptcy, death, or charge

34Dissolution by illegality of partnership

35Dissolution by the Court

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

37Right of partners to notify dissolution

38Continuing authority of partners for purposes of winding up

39Rights of partners as to application of partnership property

40Apportioning of premium where partnership prematurely dissolved

41Rights where partnership dissolved for fraud or misrepresentation

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

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

44Rule for distribution of assets on final settlement of accounts

45Definitions of "court" and "business"

46Saving for rules of equity and common law

47Provision as to bankruptcy in Scotland

49Commencement of Act

SCHEDULEEnactments Repealed

Partnership Act 1890

1890 Chapter 39

An Act to declare and amend the Law of Partnership.

[14th August 1890]

Be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows: