| Guvnor

Enforcement: No single statutory enforcer
Status: In Force
Penalty ceiling: Regulated

Private commercial law (partnership relations between partners); no statutory regulator enforces it. Cited by guides as reference. [ISS-342 C6 close-out]

Does it bind you?

Business-side roles with duties under this instrument.

Any Person1

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts

Human Medicines Regulations 2012 184 duties

Merchant Shipping Act 1995 144 duties

Insolvency (England and Wales) Rules 2016 104 duties

Communications Act 2003 92 duties

Road Traffic Act 1988 92 duties

What it requires

Sections creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.024 Rules as to interests and duties of partners subject to special agreement. Regulated

Share profits, losses and management equally unless you agree otherwiseAny Person

48 other provisions — procedural and definitional

s.001 Definition of partnership.

s.002 Rules for determining existence of partnership.

s.003 Postponement of rights of person lending or selling in consideration of share of profits in case of insolvency.

s.004 Meaning of firm.

s.005 Power of partner to bind the firm.

s.006 Partners bound by acts on behalf of firm.

s.007 Partner using credit of firm for private purposes.

s.008 Effect of notice that firm will not be bound by acts of partner.

s.009 Liability of partners.

s.010 Liability of the firm for wrongs.

s.011 Misapplication of money or property received for or in custody of the firm.

s.012 Liability for wrongs joint and several.

s.013 Improper employment of trust-property for partnership purposes.

s.014 Persons liable by “holding out”.

s.015 Admissions and representations of partners.

s.016 Notice to acting partner to be notice to the firm.

s.017 Liabilities of incoming and outgoing partners.

s.018 Revocation of continuing guaranty by change in firm.

s.019 Variation by consent of terms of partnership.

s.020 Partnership property.

s.021 Property bought with partnership money.

s.022 Conversion into personal estate of land held as partnership property.

s.023 Procedure against partnership property for a partner’s separate judgment debt.

s.025 Expulsion of partner.

s.026 Retirement from partnership at will.

s.027 Where partnership for term is continued over, continuance on old terms presumed.

s.028 Duty of partners to render accounts, &c.

s.029 Accountability of partners for private profits.

s.030 Duty of partner not to compete with firm.

s.031 Rights of assignee of share in partnership.

s.032 Dissolution by expiration or notice.

s.033 Dissolution by bankruptcy, death, or charge.

s.034 Dissolution by illegality of partnership.

s.035 Dissolution by the Court.

s.036 Rights of persons dealing with firm against apparent members of firm.

s.037 Right of partners to notify dissolution.

s.038 Continuing authority of partners for purposes of winding up.

s.039 Rights of partners as to application of partnership property.

s.040 Apportionment of premium where partnership prematurely dissolved.

s.041 Rights where partnership dissolved for fraud or misrepresentation.

s.042 Right of out-going partner in certain cases to share profits made after dissolution.

s.043 Retiring or deceased partner’s share to be a debt.

s.044 Rule for distribution of assets on final settlement of accounts.

s.045 Definitions of “court” and “business”.

s.046 Saving for rules of equity and common law.

s.047 Provision as to bankruptcy in Scotland.

s.050 Short title.

s.4849 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Help complying

Guvnor’s practical routes through this instrument.

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8 more guides that reference this instrument

Choose a business model Choose a partnership structure Create a partnership agreement Dissolve a business partnership File partnership tax returns (SA800) How partners pay tax on profits Register a business partnership Set up a business partnership

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.