[Home] [Databases] [World Law] [Search] [Feedback]
	Northern Irish Legislation
You are here:  BAILII >> Databases >> Northern Irish Legislation >> PARTNERSHIP ACT 1890

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

PARTNERSHIP ACT 1890 - SECT 40

Apportionment of premium where partnership prematurely dissolved.

40. Where one partner has paid a premium to another on entering into a
partnership for a fixed term, and the partnership is dissolved before the
expiration of that term otherwise than by the death of a partner, the Court
may order the repayment of the premium, or of such part thereof as it thinks
just, having regard to the terms of the partnership contract and to the length
of time during which the partnership has continued; unless

(a)the dissolution is, in the judgment of the Court, wholly or chiefly due to
the misconduct of the partner who paid the premium, or

(b)the partnership has been dissolved by an agreement containing no provision
for a return of any part of the premium.

© 1890 Crown Copyright

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.bailii.org/nie/legis/num_act/pa1890154/s40.html