Singapore Statutes Online - 391 - Partnership Act

Partnership Act
(CHAPTER 391)

Nature of Partnership

1 Definition of partnership

2 Rules for determining existence of partnership

3 Postponement of rights of person lending or selling in consideration of share of profits in case of insolvency

4 Meaning of firm

Relations of Partners to Persons Dealing with Them

5 Power of partner to bind firm

6 Partners bound by acts on behalf of firm

7 Partner using credit of firm for private purposes

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

9 Liability of partners

10 Liability of firm for wrongs

11 Misappplication of money or property received for or in custody of firm

12 Liability for wrongs joint and several

13 Improper employment of trust property for partnership purposes

14 Persons liable by "holding out"

15 Admissions and representations of partners

16 Notice to acting partner to be notice to firm

17 Liabilities of incoming and outgoing partners

18 Revocation of continuing guaranty by change in firm

Relations of Partners to One Another

19 Variation by consent of terms of partnership

20 Partnership property

21 Property bought with partnership money

22 Conversion into personal estate of land held as partnership property

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

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

25 Expulsion of partner

26 Retirement from partnership at will

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

28 Duty of partners to render accounts, etc.

29 Accountability of partners for private profits

30 Duty of partner not to compete with firm

31 Rights of assignee of share in partnership

Dissolution of Partnership, and its Consequences

32 Dissolution by expiration or notice

33 Dissolution by bankruptcy, death or charge

34 Dissolution by illegality of partnership

35 Dissolution by court

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

37 Right of partners to notify dissolution

38 Continuing authority of partners for purposes of winding up

39 Rights of partners as to application of partnership property

40 Apportionment of premium where partnership prematurely dissolved

41 Rights where partnership dissolved for fraud or misrepresentation

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

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

44 Rule for distribution of assets on final settlement of accounts

Supplemental

45 Interpretation

46 Saving for rules of equity and common law

47 Short title

Legislative History

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

8. 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.