Partnership Act 1895 (WA)

Western Australia Partnership Act 1895 Western Australia Partnership Act 1895 Contents Part IA — Preliminary 1. Short title 2 2. Commencement 2 3. Terms used in this Act 2 4. Application of Act 2 6. Present law to continue except as modified 3 Part I — Nature of partnership 7. Meaning of "partnership" 4 8. Rules to apply in determining partnership 4 9. Seller of business to be deferred to other creditors for value 5 10. Meanings of "firm" and "firm-name" 6 11. Number of persons in firm 6 12. Choice of firm‑name 6 Part II — Relations of partners to persons dealing with them 13. Partners bound by acts of firm 7 14. Partner using credit of firm for private purposes 7 15. Effect of notice that firm will not be bound by act of partner 7 16. Liability of partners 7 17. Liability of firm for wrongs 8 18. Misapplication of money or property 8 19. Liability for wrongs, joint and several 9 20. Improper employment of trust property 9 21. Persons liable by "holding out" 9 22. Admissions and representations by partners 10 23. Notice to acting partner to be notice to firm 10 24. Liabilities of incoming and outgoing partners 10 25. Revocation of continuing guaranty 11 26. Special powers of partners 11 27. Special powers of partners in certain firms 11 28. Enforcing judgments against partners and partnerships 12 Part III — Relations of partners to one another 29. Terms of partnership may be varied by consent 13 30. Meaning of "partnership property" 13 31. Property bought with partnership money 13 32. Conversion of real into personal estate 14 33. Meaning of "partner's share" 14 34. Rules as to interests, rights and duties of partners 14 35. Expulsion of partner 15 36. Retirement of partner where fixed term 16 37. Retirement from partnership at will 16 38. Where partnership continued after expiration of term 16 39. Partners to render accounts 16 40. Partners must account for all benefits derived 17 41. Partner must not compete with firm 17 42. Effect of assignment of partner's share 17 Part IV — Dissolution of partnership and its consequences 43. Dissolution by expiration of notice 18 44. Dissolution by death, bankruptcy, assignment or charge 18 45. Dissolution by illegality of partnership 19 46. Dissolution by court 19 47. Rights of creditors against apparent members of firm 20 48. Partner may notify of dissolution 20 49. Authority for purposes of winding up 20 50. Application of partnership property 21 51. Sale of goodwill on dissolution 21 52. Use of firm-name may be restrained 21 53. Provision where premium paid 22 54. Lien on assets where partnership dissolved for fraud 22 55. Right of outgoing partner in certain cases to share profits made after dissolution 23 56. Retaining of deceased partner's share to be a debt 23 57. Rules for distribution of assets on final settlement of accounts 24 Notes Compilation table 25 Defined terms Western Australia Partnership Act 1895 An Act to consolidate and amend the law of partnership.