Partnerships Act 16 of 2012▤
Liability of former partner for obligations incurred while a partner
(1) A person who ceases to be a partner does not cease to be personally liable under section 22(1) for partnership obligations inc…
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79 results · Partnerships Act 16 of 2012
Partnerships Act 16 of 2012▤
Realization of shares of former partner (other than on winding up)
A person who ceases to be a partner before the break up of a partnership shall be entitled to the assets or shall be liable for an…
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Partnerships Act 16 of 2012▤
Power to expel partner
(1) A majority of partners in a partnership may expel a partner if— (a) an order is made against the partner under section 44; or…
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Partnerships Act 16 of 2012▤
Resignation of a partner
(1) A partner may resign from a partnership only by giving to the other partners notice of intention to do so not less than three…
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Partnerships Act 16 of 2012▤
Ceasing to be a partner
A person shall cease to be a partner in a partnership if— (a) the person dies; (b) the person is expelled as a partner by his co-p…
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Partnerships Act 16 of 2012▤
Admission of new partners
(1) A person may become a partner in an existing partnership with the consent of all existing partners. (2) The consent referred t…
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Partnerships Act 16 of 2012▤
Non-partners who are liable by “holding out”
(1) A person who is not a partner in a partnership and who by words spoken or written or by conduct— (a) represents the partnershi…
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Partnerships Act 16 of 2012▤
Chief Justice may make rules on partner’s secondary liability
(1) The Chief Justice may make rules— (a) preventing a partner from defending; or (b) restricting the extent to which, or the way…
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Partnerships Act 16 of 2012▤
Secondary nature of partner’s liability
A partner may not in any proceedings, be held personally liable under section 22(1) unless— (a) there has been a judgment. Order o…
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Partnerships Act 16 of 2012▤
Unlimited liability of partners
(1) A partner who has unlimited liability is personally liable for the whole amount of any obligation incurred by the partnership…
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Partnerships Act 16 of 2012▤
Liability of partnership for loss or injury caused by partner
A partnership shall be liable for loss or injury caused by the wrongful act or omission of a partner to a person who is not a part…
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Partnerships Act 16 of 2012▤
Execution of deeds
(1) A document is validly executed by a partnership as a deed under this Act if it is— (a) executed by at least two partners, each…
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Partnerships Act 16 of 2012▤
Land acquired out of partnership profits
Where co-owners of an estate or interest in any land, not being itself partnership property, are partners with regard to profits m…
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Partnerships Act 16 of 2012▤
Rules for identifying partnership property
(1) All rights and interest in the property acquired on behalf of the partnership or for the purpose and in the course of business…
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Partnerships Act 16 of 2012▤
Partnership bound by acts of partners carrying on business in usual manner
(1) A partnership is bound by an act done by a partner who is carrying on the business of the partnership. (2) A partnership is no…
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Partnerships Act 16 of 2012▤
Accounting and partnership records
(1) Every partner shall have the responsibility to ensure that— (a) accounting records of transactions affecting the partnership i…
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Partnerships Act 16 of 2012▤
Management of partnership business and affairs
(1) A partner is entitled to participate part in the management of the business of the partnership. (2) Differences arising out of…
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Partnerships Act 16 of 2012▤
Capital contribution by partner
(1) A partner may only— (a) contribute capital to the partnership; or (b) vary the amount of the partner’s capital contribution to…
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Partnerships Act 16 of 2012▤
Remuneration, expenses, personal liabilities
(1) A partner is not entitled to remuneration from the partnership for acting in the business of the partnership. (2) A partnershi…
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Partnerships Act 16 of 2012▤
Share of profits and losses
(1) A partner is entitled to share equally in the profits of the partnership and is liable to contribute equally towards the losse…
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Partnerships Act 16 of 2012▤
Duty of disclosure on forming or joining a partnership
(1) A person shall, before forming a partnership, disclose to a prospective partner anything known to the person which would reaso…
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Partnerships Act 16 of 2012▤
Duty of good faith
(1) A partner has a duty to act in good faith towards— (a) the partnership; and (b) the other partners in the partnership, in rela…
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Partnerships Act 16 of 2012▤
Incapacity to commit offences
A partnership is not capable of committing an offence except so far as is provided under any written law.
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Partnerships Act 16 of 2012▤
Partnership to have unlimited capacity
(1) Subject to section 9, the capacity of a partnership as a legal person is unlimited. (2) A partnership shall not employ a partn…
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