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Author Topic: Discussion - Loyalty in partnership.  (Read 314 times)

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Offline pra_sat

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Discussion - Loyalty in partnership.
« on: October 04, 2018, 01:53:50 AM »
Hello everyone,

I have a small query - if a group of persons start a partnership firm, and one of the partners starts working (i.e. investing office time, resources and money) for another firm without either notifying others or dissolving the partnership, are his (the one who is working elsewhere) actions legal? What actions, if any, can be taken against him?

Offline pra_sat

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Re: Discussion - Loyalty in partnership.
« Reply #1 on: October 04, 2018, 02:08:10 AM »
one of the partners starts working  for another firm without either notifying others or dissolving...

What actions, if any, can be taken against him?

The reason I marked this post as discussion is because - more often than not, the deed of partnership is a readymade .doc file in which you make changes in name, address, etc. and get it on stamp paper.

As a result quiet a few deeds-of-partnership have no explicit statements about such betrayal under PROHIBITIONS clause. What's intriguing are the following sentences written under DUTIES OF PARTNERS clause:

 * the partner / partners shall carry on business of the firm to the greatest common advantage
 * the partners shall be just and faithful to each other and shall render true accounts and full information of all things affecting the firm or to the other partners

I would love to know the views and opinions of practicing lawyers on this matter.
« Last Edit: October 04, 2018, 02:11:49 AM by pra_sat »

Offline advkartik

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Re: Discussion - Loyalty in partnership.
« Reply #2 on: October 04, 2018, 10:19:20 PM »
yours is not a registered company just a partnership agreement that exist between consenting parties.
in this even you need to first send a legal Notice on grounds of breach of trust and contract.

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