Partnership Act


Published: 1905-01-01

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Partnership Act
PARTNERSHIP [CH.310 – 1



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[Original Service 2001] STATUTE LAW OF THE BAHAMAS

PARTNERSHIP
CHAPTER 310

PARTNERSHIP

ARRANGEMENT OF SECTIONS

SECTION

1. Short title.
2. Definition of “partnership”.
3. Rules for determining existence of “partnership”.
4. Postponement of rights of persons lending or selling in consideration of share of profits in cases of

insolvency.
5. Meaning of firm.


Relations of Partners to Persons Dealing with Them


6. Power of partners to bind the firm.
7. Partners bound by acts on behalf of firm.
8. Partner using credit of firm for private purposes.
9. Effect of notice that firm will not be bound by acts of partner.
10. Liability of partners.
11. Liability of the firm for wrongs.
12. Misapplication of money or property received for or in custody of the firm.
13. Liability for wrongs joint and several.
14. Improper employment of trust-property for partnership purposes.
15. Persons liable by “holding out”.
16. Admissions and representations of partners.
17. Notice to acting partner to be notice to the firm.
18. Liabilities of incoming and outgoing partners.
19. Revocation of continuing guarantee by change in firm.


Relations of Partners to One Another


20. Variation by consent of terms of partnership.
21. Partnership property.
22. Property bought with partnership money.
23. Conversion into personal estate of land held as partnership property.
24. Procedure against partnership property for a partner’s separate judgment debt.
25. Rules as to interests and duties of partners subject to special agreement.
26. Expulsion of partner.
27. Retirement from partnership at will.
28. Where partnership for term is continued over, continuance on old terms presumed.

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STATUTE LAW OF THE BAHAMAS [Original Service 2001]

29. Duty of partners to render accounts, etc.
30. Accountability of partners for private profits.
31. Duty of partner not to compete with firm.
32. Rights of assignee of share in partnership.


Dissolution of Partnership and its Consequences


33. Dissolution by expiration or notice.
34. Dissolution by bankruptcy, death or charge.
35. Dissolution by illegality of partnership.
36. Dissolution by the court.
37. Rights of persons dealing with firm against apparent members of firm.
38. Right of partners to notify dissolution.
39. Continuing authority of partners for purposes of winding up.
40. Rights of partners as to application of partnership property.
41. Apportionment of premium where partnership prematurely dissolved.
42. Rights where partnership dissolved for fraud or misrepresentation.
43. Rights of outgoing partner in certain cases to share profits made after dissolution.
44. Retiring or deceased partner’s share to be a debt.
45. Rules for distribution on final settlement of accounts.


Supplemental


46. Interpretation.
47. Saving for rules of equity and common law.

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CHAPTER 310

PARTNERSHIP
An Act to declare the law of partnership.

[Assent 9th June, 1904]
[Commencement 1st January, 1905]

1. This Act may be cited as the Partnership Act.
2. (1) Partnership is the relation which subsists

between persons carrying on a business in common with a
view of profit.

(2) But the relation between members of any company
or association which is —

(a) registered as a company under the Companies
Act or any other Act for the time being in force
and relating to the registration of joint stock
companies;

(b) formed or incorporated by or in pursuance of
any Act or Letters Patent or Royal Charter,

is not a partnership within the meaning of this Act.
3. In determining whether a partnership does or does

not exist, regard shall be had to the following rules —
(a) joint tenancy, tenancy in common, joint pro-

perty, common property, or part ownership does
not of itself create a partnership as to anything
so held or owned, whether the tenants or owners
do or do not share any profits made by the use
thereof;

(b) the sharing of gross returns does not of itself
create a partnership, whether the persons sharing
such returns have or have not a joint or common
right or interest in any property from which or
from the use of which the returns are derived;

(c) the receipt by a person of a share of the profits
of a business is prima facie evidence that he is a
partner in the business, but the receipt of such a
share, or of a payment contingent on or varying


36 of 1904

Short title.

Definition of
“partnership”.

Ch. 308.

Rules for
determining
existence of
“partnership”.

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STATUTE LAW OF THE BAHAMAS [Original Service 2001]

with the profits of a business, does not of itself
make him a partner in the business; and in
particular —

(i) the receipt by a person of a debt or other
liquidated amount by instalments or
otherwise out of the accruing profits of a
business does not of itself make him a
partner in the business or liable as such;

(ii) a contract for the remuneration of a
servant or agent of a person engaged in a
business by a share of the profits of the
business does not of itself make the
servant or agent a partner in the business
or liable as such;

(iii) a person being the widow or child of a
deceased partner, and receiving by way of
annuity a portion of the profits made in the
business in which the deceased person was
a partner, is not by reason only of such
receipt a partner in the business or liable
as such;

(iv) the advance of money by way of loan to a
person engaged or about to engage in any
business on a contract with that person to
the effect that the lender shall receive a
rate of interest varying with the profits, or
shall receive a share of the profits arising
from carrying on the business, does not of
itself make the lender a partner with the
person or persons carrying on the business
or liable as such:

Provided that the contract is in writing,
and signed by or on behalf of all parties
thereto;

(v) a person receiving by way of annuity or
otherwise a portion of the profits of a
business in consideration of the sale by
him of the goodwill of the business is not
by reason only of such receipt a partner in
the business or liable as such.

4. In the event of any person to whom money has
been advanced by way of loan upon such a contract as is
mentioned section 3 of this Act, or of any buyer of a
goodwill in consideration of a share of the profits of the
business, being adjudged a bankrupt, entering into an


Postponement of
rights of person
lending or selling
in consideration
of share of
profits in cases of
insolvency.

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arrangement to pay his creditors less than one hundred
cents in the dollar, or dying in insolvent circumstances, the
lender of the loan shall not be entitled to recover anything
in respect of his loan, and the seller of the goodwill shall
not be entitled to recover anything in respect of the share of
profits contracted for, until the claims of the other creditors
of the borrower or buyer for valuable consideration in
money or money’s worth have been satisfied.

5. Persons who have entered into partnership with
one another are for the purposes of this Act called
collectively a firm, and the name under which their
business is carried on is called the firm-name.

Relations of Partners to Persons Dealing
with Them

6. Every partner is an agent of the firm and his
other partners for the purpose of the business of the
partnership; and the acts of every partner who does any act
for carrying on in the usual way business of the kind
carried on by the firm of which he is a member bind the
firm and his partners, unless the partner so acting has in
fact no authority to act for the firm in the particular matter,
and the person with whom he is dealing either knows that
he has no authority, or does not know or believe him to be
a partner.

7. An act or instrument relating to the business of
the firm and done or executed in the firm-name, or in any
other matter showing an intention to bind the firm, by any
person thereto authorised, whether a partner or not, is
binding on the firm and all the partners:

Provided that this section shall not affect any general
rule of law relating to the execution of deeds or negotiable
instruments.

8. Where one partner pledges the credit of the firm
for a purpose apparently not connected with the firm’s
ordinary course of business, the firm is not bound, unless
he is in fact specially authorised by the other partners; but
this section does not affect any personal liability incurred
by an individual partner.

Meaning of firm.

Power of partner
to bind the firm.

Partners bound
by acts on behalf
of firm.

Partner using
credit of firm for
private purposes.

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STATUTE LAW OF THE BAHAMAS [Original Service 2001]

9. If it has been agreed between the partners that
any restriction shall be placed on the power of any one or
more of them to bind the firm, no act done in contravention
of the agreement is binding on the firm with respect to
persons having notice of the agreement.

10. Every partner in a firm is liable jointly with the
other partners for all debts and obligations of the firm
incurred while he is a partner; and after his death his estate
is also severally liable in a due course of administration for
such debts and obligations, so far as they remain
unsatisfied, but subject to the prior payment of his separate
debts.

11. Where, by any wrongful act or omission of any
partner acting in the ordinary course of the business of the
firm, or with the authority of his co-partners, loss or injury
is caused to any person not being a partner in the firm, or
any penalty is incurred, the firm is liable therefor to the
same extent as the partner so acting or omitting to act.

12. In the following cases, namely —
(a) where one partner acting within the scope of his

apparent authority receives the money or prop-
erty of a third person and misapplies it;

(b) where a firm in the course of its business
receives money or property of a third person,
and the money or property so received is
misapplied by one or more of the partners while
it is in the custody of the firm,

the firm is liable to make good the loss.
13. Every partner is liable jointly with his co-

partners and also severally for everything for which the
firm while he is a partner therein becomes liable under
either of sections 11 and 12 of this Act.

14. If a partner, being a trustee, improperly employs
trust-property in the business or on the account of the
partnership, no other partner is liable for the trust-property
to the persons beneficially interested therein:

Provided as follows —
(a) this section shall not affect any liability incurred

by any partner by reason of his having notice of
a breach of trust;

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

Liability of
partners.

Liability of the
firm for wrongs.

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

Liability for
wrongs joint and
several.

Improper
employment of
trust-property
for partnership
purposes.

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(b) nothing in this section shall prevent trust money
from being followed and recovered from the
firm if still in its possession or under its control.

15. Every one who by words spoken or written or by
conduct represents himself, or who knowingly suffers
himself to be represented, as a partner in a particular firm,
is liable as a partner to any one who has on the faith of any
such representation given credit to the firm, whether the
representation has or has not been made or communicated
to the person so giving credit by or with the knowledge of
the apparent partner making the representation or suffer-
ing it to be made:

Provided that, where after a partner’s death the
partnership business is continued in the old firm-name, the
continued use of that name or of the deceased partner’s
name as part thereof shall not of itself make his executors
or administrators estate or effects liable for any partnership
debts contracted after his death.

16. An admission or representation made by any
partner concerning the partnership affairs, and in the
ordinary course of its business, is evidence against the firm.

17. Notice to any partner who habitually acts in the
partnership business of any matter relating to partnership
affairs operates as a notice to the firm, except in the case of
a fraud on the firm committed by or with the consent of
that partner.

18. (1) A person who is admitted as a partner into an
existing firm does not thereby become liable to the
creditors of the firm for anything done before he became a
partner.

(2) A partner who retires from a firm does not thereby
cease to be liable for partnership debts or obligations
incurred before his retirement.

(3) A retiring partner may be discharged from any
existing liabilities, by an agreement to that effect between
himself and the members of the firm as newly constituted
and the creditors, and this agreement may be either express
or inferred as a fact from the course of dealing between the
creditors and the firm as newly constituted.

Persons liable by
“holding out”.

Admissions and
representations
of partners.

Notice to acting
partner to be
notice to the
firm.

Liabilities of
incoming and
outgoing
partners.

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STATUTE LAW OF THE BAHAMAS [Original Service 2001]

19. A continuing guarantee or cautionary obligation
given either to a firm or to a third person in respect of the
transactions of a firm is, in the absence of agreement to the
contrary, revoked as to future transactions by any change
in the constitution of the firm to which, or of the firm in
respect of the transactions of which, the guarantee or
obligation was given.

Relations of Partners to One Another
20. The mutual rights and duties of partners, whether

ascertained by agreement or defined by this Act, may be
varied by the consent of all the partners, and such consent
may be either express or inferred from a course of dealing.

21. (1) All property and rights and interest in
property originally brought into the partnership stock or
acquired, whether by purchase or otherwise, on account of
the firm, or for the purposes and in the course of the
partnership business, are called in this Act partnership
property, and must be held and applied by the partners
exclusively for the purposes of the partnership and in
accordance with the partnership agreement.

(2) The legal estate or interests in any land which
belongs to the partnership shall devolve according to the
nature and tenure thereof, and the general rules of law
thereto applicable, but in trust, so far as necessary, for the
persons beneficially interested in the land under this
section.

(3) Where co-owners of an estate or interest in any
land not being itself partnership property are partners as to
profits made by the use of that land or estate, and purchase
other land or estate out of the profits to be used in like
manner, the land or estate so purchased belongs to than, in
the absence of an agreement to the contrary, not as
partners, but as co-owners for the same respective estates
and interests as are held by them in the land or estate first
mentioned at the date of the purchase.

22. Unless the contrary intention appears, property
bought with money belonging to the firm is deemed to
have been bought on account of the firm.

23. Where land has become partnership property, it
shall, unless the contrary intention appears, be treated as
between the partners (including the representatives of a


Revocation of
continuing
guarantee by
change in firm.

Variation by
consent of terms
of partnership.

Partnership
property.

Property bought
with partnership
money.

Conversion into
personal estate of
land held as
partnership
property.

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deceased partner), and also as between the heirs of a
deceased partner and his executors or administrators, as
personal and not real estate.

24. (1) A writ of execution shall not issue against
any partnership property except on a judgment against the
firm.

(2) The court may, on the application by summons
of any judgment creditor of a partner, make an order
charging that partner’s interest in the partnership property
and profits with payment of the amount of the judgment
debt and interest thereon, and may by the same or a
subsequent order appoint a receiver of that partner’s share
of profits (whether already declared or accruing), and of
any other money which may be coming to him in respect of
the partnership, and direct all accounts and inquiries, and
give all other orders and directions which might have been
directed or given if the charge had been made in favour of
the judgment creditor by the partner, or which the
circumstances of the case may require.

(3) The other partner or partners shall be at liberty
at any time to redeem the interest charged, or in case of a
sale being directed, to purchase the same.

25. The interests of partners in the partnership
property and their rights and duties in relation to the
partnership shall be determined, subject to any agreement
express or implied between the partners, by the following
rules —

(a) all the partners are entitled to share equally in
the capital and profits of the business, and must
contribute equally towards the losses whether of
capital or otherwise sustained by the firm;

(b) the firm must indemnify every partner in respect
of payments made and personal liabilities in-
curred by him —

(i) in the ordinary and proper conduct of the
business of the firm;

(ii) in or about anything necessarily done for
the preservation of the business or property
of the firm;

(c) a partner making, for the purpose of the
partnership, any actual payment or advance


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

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

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STATUTE LAW OF THE BAHAMAS [Original Service 2001]

beyond the amount of capital which he has
agreed to subscribe, is entitled to interest at the
rate of five per centum per annum from the date
of the payment or advance;

(d) a partner is not entitled, before the ascertainment
of profits, to interest on the capital subscribed by
him;

(e) every partner may take part in the management
of the partnership business;

(f) no partner shall be entitled to remuneration for
acting in the partnership business;

(g) no person may be introduced as a partner
without the consent of all existing parties;

(h) any difference arising as to ordinary matters
connected with the partnership business may be
decided by a majority of the partners, but no
change may be made in the nature of the
partnership business without the consent of all
existing partners;

(i) the partnership books are to be kept at the place
of business of the partnership (or the principal
place, if there is more than one), and every
partner may, when he thinks fit, have access to
and inspect and copy any of them.

26. No majority of the partners can expel any
partner unless a power to do so has been conferred by
express agreement between the partners.

27. (1) Where no fixed term has been agreed upon
for the duration of the partnership, any partner may
determine the partnership at any time on giving notice of
his intention so to do to all the other partners.

(2) Where the partnership has originally been con-
stituted by deed, a notice in writing signed by the partner
giving it shall be sufficient for this purpose.

28. (1) Where a partnership entered into for a fixed
term is continued after the term has expired, and without
any express new agreement, the rights and duties of the
partners remain the same as they were at the expiration of
the term, so far as is consistent with the incidents of a
partnership at will.

Expulsion of
partner.

Retirement from
partnership at
will.

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

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(2) A continuance of the business by the partners or
such of them as habitually acted therein during the term,
without any settlement or liquidation of the partnership
affairs, is presumed to be a continuance of the partnership.

29. Partners are bound to render true accounts and
full information of all things affecting the partnership to
any partner or his legal representatives.

30. (1) Every partner must account to the firm for
any benefit derived by him without the consent of the other
partners from any transaction concerning the partnership,
or from any use by him of the partnership property name or
business connection.

(2) This section applies also to transactions under-
taken after a partnership has been dissolved by the death of
a partner, and before the affairs thereof have been
completely wound up, either by any surviving partner or by
the representatives of the deceased partner.

31. If a partner, without the consent of the other
partners, carries on any business of the same nature as and
competing with that of the firm, he must account for and
pay over to the firm all profits made by him in that
business.

32. (1) An assignment by any partner of his share in
the partnership, either absolute or by way of mortgage or
redeemable charge, does not, as against the other partners,
entitle the assignee during the continuance of the partner-
ship, to interfere in the management or administration of
the partnership business or affairs, or to require any
accounts of the partnership transactions, or to inspect the
partnership books, but entitles the assignee only to receive
the share of profits to which the assigning partner would
otherwise be entitled, and the assignee must accept the
account of profits agreed to by the partners.

(2) In case of a dissolution of the partnership, whether
as respects all the partners or as respects the assigning
partner, the assignee is entitled to receive the share of the
partnership assets to which the assigning partner is entitled
as between himself and the other partners, and, for the
purpose of ascertaining that share, to an account as from
the date of the dissolution.

Duty of partners
to render
accounts, etc.

Accountability of
partners for
private profits.

Duty of partner
not to compete
with firm.

Rights of
assignee of share
in partnership.

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STATUTE LAW OF THE BAHAMAS [Original Service 2001]

Dissolution of Partnership and its
Consequences

33. Subject to any agreement between the partners, a
partnership is dissolved —

(a) if entered into for a fixed term, by the expiration
of that term;

(b) if entered into for a single adventure or under-
taking, by the termination of that adventure or
undertaking;

(c) if entered into for an undefined time, by any
partner giving notice to the other or others of his
intention to dissolve the partnership.

in the last-mentioned case the partnership is dissolved as
from the date mentioned in the notice as the date of
dissolution, or, if no date is so mentioned, as from the date
of the communication of the notice.

34. (1) Subject to any agreement between the part-
ners, every partnership is dissolved as regards all the
partners by the death or bankruptcy of any partner.

(2) A partnership may, at the option of the other
partners, be dissolved if any partner suffers his share of the
partnership property to be charged under this Act for his
separate debt.

35. A partnership is in every case dissolved by the
happening of any event which makes it unlawful for the
business of the firm to be carried on or for the members of
the firm to carry it on in partnership.

36. On application by a partner the court may decree
a dissolution of the partnership in any of the following
cases —

(a) when a partner is shown to the satisfaction of the
court to be of permanently unsound mind;

(b) when a partner, other than the partner suing,
becomes in any other way permanently
incapable of performing his part of the
partnership contract;

(c) when a partner, other than the partner suing, has
been guilty of such conduct as, in the opinion of
the court, regard being had to the nature of the
business, is calculated to affect prejudicially the
carrying on of the business;

Dissolution by
expiration or
notice.

Dissolution by
bankruptcy,
death or charge.

Dissolution by
illegality of
partnership.

Dissolution by
the court.

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(d) when a partner, other than the partner suing,
wilfully or persistently commits a breach of the
partnership agreement, or otherwise so conducts
himself in matters relating to the partnership
business that it is not reasonably practicable for
the other partner or partners to carry on the
business in partnership with him;

(e) when the business of the partnership can only be
carried on at a loss;

(f) whenever in any case circumstances have arisen
which, in the opinion of the court, render it just
and equitable that the partnership be dissolved.

37. (1) Where a person deals with a firm after a
change in its constitution he is entitled to treat all apparent
members of the old firm as still being members of the firm
until he has notice of the change.

(2) An advertisement in the Gazette shall be notice
as to persons who had no dealings with the firm before the
date of dissolution or change so advertised.

(3) The estate of a partner who dies, or who
becomes bankrupt, or of a partner who, not having been
known to the person dealing with the firm to be a partner,
retires from the firm, is not liable for partnership debts
contracted after the death, bankruptcy, or retirement
respectively.

38. On the dissolution of a partnership or retirement
of a partner any partner may publicly notify the same, and
may require the other partner or partners to concur for that
purpose in all necessary or proper acts, if any, which
cannot be done without his or their concurrence.

39. After the dissolution of a partnership the author-
ity of each partner to bind the firm, and the other rights and
obligations of the partners, continue notwithstanding the
dissolution so far as may be necessary to wind up the
affairs of the partnership, and to complete transactions
begun but unfinished at the time of the dissolution, but not
otherwise:

Provided that the firm is in no case bound by the acts
of a partner who has become bankrupt; but this proviso
does not affect the liability of any person who has after the
bankruptcy represented himself or knowingly suffered
himself to be represented as a partner of the bankrupt.

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

Right of partners
to notify
dissolution.

Continuing
authority of
partners for
purposes of
winding up.

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STATUTE LAW OF THE BAHAMAS [Original Service 2001]

40. 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 interest
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 as partners 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.

41. Where one partner has paid a premium to
another on entering into a partnership for a fixed term, and
the partnership is dissolved before the expiration of that
term otherwise than by the death of a partner, the court
may order the repayment of the premium, or of such part
thereof as it thinks just, having regard to the terms of the
partnership contract and to the length of time during which
the partnership was continued; unless —

(a) the dissolution is, in the judgment of the court,
wholly or chiefly due to the misconduct of the
partner who paid the premium; or

(b) the partnership has been dissolved by an agree-
ment containing no provision for a return of any
part of the premium.

42. Where a partnership contract is rescinded on the
ground of the fraud or misrepresentation of one of the
parties thereto, the party entitled to rescind is, without
prejudice to any other right, entitled —

(a) to a lien on, or right of retention of, the surplus
of the partnership assets, after satisfying the
partnership liabilities, for any sum of money
paid by him for the purchase of a share in the
partnership and for any capital contributed by
him;

(b) to stand in the place of the creditors of the firm
for any payments made by him in respect of the
partnership liabilities;

(c) to be indemnified by the person guilty of the
fraud or making the representation against all
the debts and liabilities of the firm.

Rights of
partners as to
application of
partnership
property.

Apportionment
of premium
where
partnership
prematurely
dissolved.

Rights where
partnership
dissolved for
fraud or
misrepresen-
tation.

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43. Where any member of a firm has died or
otherwise ceased to be a partner, and the surviving or
continuing partners carry on the business of the firm with
its capital or assets without any final settlement of accounts
as between the firm and the outgoing partner or his estate,
then, in the absence of any agreement to the contrary, the
outgoing partner or his estate is entitled at the option of
himself or his representatives to such share of the profits
made since the dissolution as the court may find to be
attributable to the use of his share of the partnership assets,
or to interest at the rate of five per centum per annum on
the amount of his share of the partnership assets:

Provided that, where by the partnership contract an
option is given to surviving or continuing partners to
purchase the interest of a deceased or out-going partner,
and that option is duly exercised, the estate of the deceased
partner, or the outgoing partner or his estate, as the case
may be, is not entitled to any further or other share of
profits; but if any partner assuming to act in exercise of the
option does not in all material respects comply with the
terms thereof, he is liable to account under the foregoing
provisions of this section.

44. Subject to any agreement between the partners,
the amount due from surviving or continuing partners to an
outgoing partner or the representatives of a deceased
partner in respect of the outgoing or deceased partner’s
share is a debt accruing at the date of the dissolution or
death.

45. In settling accounts between the partners after a
dissolution of partnership, the following rules shall, subject
to any agreement, be observed —

(a) losses, including losses and deficiencies of
capital, shall be paid first out of profits, next out
of capital, and lastly, if necessary, by the
partners individually in the proportion in which
they were entitled to share profits;

(b) the assets of the firm including the sums, if any,
contributed by the partners to make up losses or
deficiencies of capital, shall be applied in the
following manner and order —

(i) in paying the debts and liabilities of the firm
to persons who are not partners therein;

Right of
outgoing partner
in certain cases to
share profits
made after
dissolution.

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

Rules for
distribution of
assets on final
settlement of
accounts.

CH.310 – 16] PARTNERSHIP





STATUTE LAW OF THE BAHAMAS [Original Service 2001]

(ii) in paying to each partner rateably what is
due from the firm to him for advances as
distinguished from capital;

(iii) in paying to each partner rateably what is
due from the firm to him in respect of
capital;

(iv) the ultimate residue, if any, shall be
divided among the partners in the
proportion in which profits are divisible.

Supplemental
46. In this Act, unless the context otherwise re-

quires —
“business” includes every trade, occupation or

profession;
“court” means the Supreme Court.
47. The rules of equity and of common law applicable

to partnership shall continue in force except so far as they
are inconsistent with the express provisions of this Act.

Interpretation.

Saving for rules
of equity and
common law.