Dealings between partners

Graw, Stephen (2018) Dealings between partners. In: Sue, Shannon J., (ed.) Partnerships and Joint Ventures. Halsbury's Laws of Australia . LexisNexis, Sydney, NSW, Australia, pp. 556161-556226.

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[Extract] Decision making: Unless any express or implied agreement between the partners provides otherwise, every partner is entitled to inspect the partnership books,1 either personally or through an agent2 and to take part in the management of the partnership business.3 Decisions relating to ordinary matters connected with the partnership business may be made by a majority of the partners subject to any agreement express or implied between the partners.4 However, the majority must act in good faith and every partner must have the opportunity to be heard.5 Failure to notify dissenting partners of proposed changes in ordinary matters of the partnership business may constitute bad faith.6 Where equal numbers of partners vote for and against a proposed change, the partners who vote in favour of preserving the existing state of affairs will prevail.7

Item ID: 53286
Item Type: Book Chapter (Later Edition)
ISBN: 978-0-409-30467-1
Keywords: management of partnerships; or, admission of new partners; or, partnership property; or, interests of partners; or, assignment; or, division of profits and losses; or, partners' right to indemnity; or, enforcement of rights between partners; or, fiduciary duties between partners
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Date Deposited: 24 Jul 2018 01:42
FoR Codes: 18 LAW AND LEGAL STUDIES > 1801 Law > 180109 Corporations and Associations Law @ 100%
SEO Codes: 94 LAW, POLITICS AND COMMUNITY SERVICES > 9499 Other Law, Politics and Community Services > 949999 Law, Politics and Community Services not elsewhere classified @ 100%
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