Principles of the Law of Partnership
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In our eReader you can find the full English version of the book. Read Principles of the Law of Partnership Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Principles of the Law of Partnership
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113 The court, in appointing a manager, usually orders that he is not to act as such beyond a fixed date, without leave of the court (t) ; and he is appointed on the terms that he becomes personally liable on all contracts entered into by him, but is entitled to be indemnified out of the assets of the business (u). If necessary the court will by injunction prevent either partner interfering with the manager to the detriment of the business or the goodwill (x).
(6. ) Ebalisation of the Assets.
A... dissolution having begun, whether voluntarily or under a decree of the court, and whether under the direction of the partners or the surviving or solvent ones, or of a receiver and manager, what happens next ? The answer is contained in sect. 39 of the Act, in the following words : " 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 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.
What to read after Principles of the Law of Partnership?
You can find similar books in the "Read Also" column, or choose other free books by Arthur Underhill to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
113 The court, in appointing a manager, usually orders that he is not to act as such beyond a fixed date, without leave of the court (t) ; and he is appointed on the terms that he becomes personally liable on all contracts entered into by him, but is entitled to be indemnified out of the assets of the business (u). If necessary the court will by injunction prevent either partner interfering with the manager to the detriment of the business or the goodwill (x).
(6. ) Ebalisation of the Assets.
A... dissolution having begun, whether voluntarily or under a decree of the court, and whether under the direction of the partners or the surviving or solvent ones, or of a receiver and manager, what happens next ? The answer is contained in sect. 39 of the Act, in the following words : " 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 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.
What to read after Principles of the Law of Partnership?
You can find similar books in the "Read Also" column, or choose other free books by Arthur Underhill to read onlineMoreLess
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