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PARTNERSHIP ACT 1890 - SECT 39

Rights of partners as to application of partnership property.

39. On the dissolution of a partnership every partner is entitled, as against
the other partners in the firm, and all persons claiming through them in
respect of their interests as partners, to have the property of the
partnership applied in payment of the debts and liabilities of the firm, and
to have the surplus assets after such payment applied in payment of what may
be due to the partners respectively after deducting what may be due from them
as partners to the firm; and for that purpose any partner or his
representatives may on the termination of the partnership apply to the Court
to wind up the business and affairs of the firm.

© 1890 Crown Copyright

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