Partnership act 1895(WA)

Question 1

What is the partnership agreement 1895(WA)

Answer 1

partnership agreement act 1985 regulates the conduct of partnerships if there is no partnership agreement or if partnership agreement does not cover one or more of the items set out in the act

Question 2

What must a company do if they don’t want to be regulated by partnership agreement 1895

Answer 2

They must bound by the Partnership Act they must have an agreement that overrides the act. a partnership agreement usually sets out the rights, liabilities and duties of all the partners. Partners can also decide on the splitting of profits/losses, payments of interest on drawings