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ID:37709019
大小:41.82 KB
页数:21页
时间:2019-05-29
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1、Section5ofthePAdefinesapartnershipas:“therelationwhichexistsbetweenpersonscarryingonabusinessincommonwithaviewofprofit”.(1)Theanswertothequestion“doesapartnershipexist?”dependsontheactualintentionoftheparties.1.Thenormalpracticeisforthepartiestoenterintoawrittenagreementpreparedbyprofessionala
2、dvisers2.Intheabsenceofawrittenagreement,theparties’respectiveintentionssurroundingtheirrelationshipwillbecrucial3.Apartnershipiscontractualinnature–apartnershipcanarisebyaformalorsimplecontract,4.beoraland/orwritten,orimpliedfromtheconductoftheparties.(2)“CarryingonaBusiness”Definition:Therem
3、ustbeadegreeofrepetitionintheparties’conduct.Anisolatedactortransactionwillnotbecarryingonabusinessunlessthereiseitheracontraryintentionorthepartiesintendthattheact,transactionorventurewillberepeated.SmithvAnderson(1880)(3)“InCommon”1.Eachpartyactsasanagentfortheother.Agencymeansthateachpartne
4、ractsonbehalfoftheprincipal(whichisthepartnership)andhasthepowertobindtheotherpartnerstohisorheractions(e.g.enteringacontract).2.Thepartiessharerightsandobligationssothateachparticipantbenefitsfromandisliableforpartnershipobligations.Kang-KemvPaine(2004)(4)“WithaViewofProfit”ThePartnershipbusi
5、nessmusthavebeenestablishedwiththeintentionofmakingaprofit.Section6:Rule1:Co-ownershipofPropertySection6(1)(a)PA:Thejointownershipofpropertydoesnotitselfcreateapartnershipirrespectiveofwhethertheownersdoordonotshareinanyprofitsmadebytheuseofthepropertyorwhetherthepropertyisheldasjointtenantsor
6、tenantsincommon.Rule2:SharingofGrossReturnsSection6(1)(b)PA:Thesharingofgrossreturnsdoesnotofitselfcreateapartnership,whetherthepersonssharingsuchreturnshaveaninterestinanypropertywhichisutilisedtoobtainthereturnsCribbvKorn(1911)Rule3:SharingProfitsSection6(1)(c):Thereceiptbyapersonofashareoft
7、heprofitsofabusinessisprimafacieevidencethatthepersonisapartnerinthebusiness,butsimplyreceivingsuchasharedoesnotmeanthepersonisapartner(a)DebtspaidoutofProfits.section6(1)(c)(i)Apersonthatisrepaidadebtoutofthebusiness’profitsdoesnotitse
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