Partners in UK Law

Leading Cases
  • Cruickshank and Others v Sutherland and Others (ex parte as to Henry Charles Begg)
    • House of Lords
    • 03 Nov 1922

    It is not, I think, disputed—and if it were I should be of opinion that it could not successfully be disputed—that a full and general account of the partnership property will be an account at which the property will be brought in at its fair value. The articles are wholly silent as to the principle to be adopted in preparing this full and general account of the property—it remains simply that it must be a proper account of the property, whatever that is.

    The only practice that existed—and that only on two occasions, viz., in April 1915 and April 1916—was to prepare the account (when the interest of all the partners was the same) on the footing of book values. When a partner died or retired the interests of all parties were not the same.

  • MacKinlay v Arthur Young McClelland Moores & Company
    • House of Lords
    • 23 Nov 1989

    What he receives out of the partnership funds falls to be brought into account in ascertaining his share of the profits of the firm except in so far he can demonstrate that it represents a payment to him in reimbursement of sums expended by him on partnership purposes in the carrying on of the partnership business or practice — the example was given in the course of argument of the partner travelling to and staying in Edinburgh on the business of the firm — or a payment entirely collateral made to him otherwise than in his capacity as a partner (as in Heastie v. Veitch & Co.

  • Inland Revenue v Graham's Trustees
    • House of Lords
    • 08 Dic 1970

    What is meant by transactions begun but unfinished when the partnership was dissolved? If the common law had been clearly settled before 1890, I would interpret this section in light of the earlier law. But it appears that there was then little authority on this matter. So this section should if possible be construed so as to reach a reasonable result.

  • Presentaciones Musicales SA v Secunda and Another
    • Court of Appeal
    • 12 Nov 1993

    I would suggest that that exception ought to be stated in these terms: that the putative principal will not be allowed to ratify the acts of his assumed agent, if such ratification will affect adversely rights of property in either real or personal property including intellectual property, which have arisen in favour of the third party or others claiming through him since the unauthorised act of the assumed agent.

  • Francesca Drake v Jack Harvey (Deceased)) and Others
    • Court of Appeal
    • 20 Jul 2011

    It is possible that the farmland could be sold and leased back to the surviving partner but, unless the partnership deed enables or requires a fair value to be taken for the farmland, there is nothing to suggest that the partners intended the surviving partner to take the risk that in the event finance was not available at reasonable cost.

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Books & Journal Articles
  • Take your partners
    • Núm. 1-2, Octubre 2006
    • The Journal of Mental Health Training, Education and Practice
    Bill Davidson provides a personal perspective about access to psychological therapies.
  • Nervous partners.
    • Núm. 236, Julio - Julio 1994
    • The Middle East
    ...Middle East economic integration has been revived as a catch-phrase in the capitals of the region, stirring up old and new debates and controversy. Following the signing of the Protocol of Economic Relations between Israel and the PLO on 29 April the......
  • ISIS Equity Partners.
    • Núm. 2003, Mayo 2003
    • Financial Management (UK)
    ...Andy Gregory has been appointed investment director at ISIS Equity Partners. Gregory, whose background includes positions in corporate finance, acquisition finance, private equity and as financial director on a management buy-out, will be part of a t......
  • Symantec empowers partners.
    • Vol. 40 Núm. 6, Diciembre 2010
    • Database and Network Journal
    ...Symantec Corp. recently announced the evolution of the Symantec Partner Program, designed to help partners build competitive advantage, improve recognition, and increase profitability. The enhanced Symantec Partner Program is based on a specialist mo......
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Law Firm Commentaries
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