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Partnership Act

LAWS OF THE REPUBLIC OF VANUATU
CONSOLIDATED EDITION 2006

Commencement: 19 April 1975

CHAPTER 92
PARTNERSHIP

QR 3 of 1975

ARRANGEMENT OF SECTIONS

PART 1 – 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 cases of insolvency

4. Meaning of "firm"

Relations of partners to persons dealing with them

5. Power of partner to bind the 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 the firm for wrongs

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

17. Liabilities of incoming and outgoing partners
18. Revocation of continuing guarantee 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. Land held as partnership property to be treated as personal 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

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