partnership - the university of sydney伙伴关系-悉尼大学

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1、LAWOFASSOCIATIONSTOPIC3PARTNERSHIPDefinitionApartnershipistherelationshipwhichexistsbetweenpersonscarryingonabusinessincommonwithaviewtoprofit.Itinvolvesanagreementbetweentwoormorepartiestoenterintoalegallybindingrelationshipandisessentiallycontractualinnature.AccordingtoTindalCJinGreenvBeesley(1

2、835)2BingNC108at112,‘Ihavealwaysunderstoodthedefinitionofpartnershiptobeamutualparticipation...’,yettheparticipantsdonotcreatealegalentitywhentheycreateapartnership.JamesLJinSmithvAnderson(1880)15ChD247at273sawtheconceptinthefollowingway:Anordinarypartnershipisapartnershipcomposedofdefiniteindivi

3、dualsboundtogetherbycontractbetweenthemselvestocontinuecombinedforsomejointobject,eitherduringpleasureorduringalimitedtime,andisessentiallycomposedofthepersonsoriginallyenteringintothecontractwithoneanother.©26May2011Page41Despitethesedefinitions,therearelimitationsonthenumberofpersonsthatcanform

4、asinglepartnership.SeeCorporationsActApartnershipwillhaveaname(calledafirmname)andthisisregisteredunderoneofthestateBusinessNamesActs.Partnershiplawderivesbothfromcaselawandfromstatutelaw.TherelevantlegislationistobefoundinthePartnershipActs1892(NSW).Thisareaofthelawhasbeendescribedasaspecialtype

5、ofagency.Themainreasonforthisisthatpartners,whenactinginthecourseofthepartnershipbusiness,areactingasagentsforoneanother:seeLangvJamesMorrison&CoLtd(1911)13CLR1at11.DeterminingwhenapartnershipexistsNecessaryelementsSection1ofthePartnershipActprovidesthatthreeelementsmustbesatisfiedinordertoestabl

6、ishtheexistenceofapartnership.Theseelementsare:nthecarryingonofabusiness;nincommon;©26May2011Page41nwithaviewtoprofit.Ifoneoftheseelementsismissing,therelationshipisnotoneofpartnership.CarryingonofabusinessThetaskofdeterminingwhatismeantbythephrase‘carryingonbusiness’hasraisedtheissueofwhetherthe

7、reisaneedtoestablishsomerepetitivenessofaction,asopposedtoisolatedactiontakenbyparties.Anumberofearlydecisionsemphasisedtheneedforcontinuityorrepetition.InSmithvAnderson(1880)15ChD247,agroupofinvestorssubscribedforthep