In The Absence Of An Agreement Partners Shall

(2) If the partnership was initially established by a letter, all that is needed is a written communication prepared by the partner for that purpose. (1) All property rights and rights to real estate initially entered or acquired into the social patrimony, whether by purchase or other means, because of the company or for the needs and in the context of the partner`s activity, are mentioned in this law and must be held and applied by the partners for the sole purpose of the partnership and in accordance with the social contract. In the event of the dissolution of a partnership, each partner has the right, unlike the other partners of the company and any person entitled through him to his interests as a partner, to assert the ownership of the company for the payment of the debts and liabilities of the business and to claim the excess assets after such payment in payment of what may be owed to the partners , after deducting what may be owed by them as a partner, and applying excess assets after such a payment that may be due to the partners. To the company To this end, any partner or his representatives may ask the Court of Justice, upon termination of the partnership, to cease its activities and affairs. 5. Interest rate: partners share equally the company`s profits, regardless of their capital contribution. (a) a right of guarantee or right to withhold the surplus of the social assets after payment of partnership commitments for a sum of money it paid for the acquisition of a stake in the partnership and for the capital it has provided and (1) If no fixed term has been agreed during the duration of the partnership, each partner may, at any time , reiterate its intention to do so to decide to all other partners. There may be cases where, instead of attributing the benefit of an agreement to a third party, the original parties reseed each other`s obligations under that agreement and recreate them in fact, the third following in the footsteps of one of the original parties. These are (1) persons who have entered into a partnership between them are collectively referred to as companies within the meaning of this Act, and the name under which their activity is carried out is called firm-name.

A partnership may have a managing partner who is responsible for running the business. The managing partner makes all the decisions in progress of the partnership. The managing partner is indefinitely responsible for the company`s debts and obligations. All partners in a general partnership have the right to participate in the management and control of the partnership, unless the administrative obligations are delegated to one or more managing partners in the partnership agreement. When a partner, as an agent in the company or on behalf of the company, illegally employs trust property, no other partner is responsible for the trust to those who support it: in the latter case, the partnership is dissolved as the date of dissolution from the date indicated in the notice or, if no date is mentioned , from the date of notification of the communication. (2) This Act does not change the provisions of Scottish law relating to the bankruptcy of a business or its individual partners. (3) The estate of a deceased or bankrupt partner or a partner who, not known to the person connected to the business as a partner, withdraws from the business, is not responsible for the social debts incurred after the date of death, bankruptcy or retirement. A co-destabilizing person contributes to the partnership, probably has a say in the operation of the partnership and is indefinitely responsible for the company`s debts and obligations. A limited partnership must have at least one compleimist who is indefinitely responsible for the company`s debts and obligations.

Uncategorized