Partnership Law Act 2019

Relationship of partners to third persons and to each other - Relationship of partners to one another

44: Rules about interests and duties of partners

You could also call this:

"Partners can agree on their own rules about what they own and how they should act"

The rules in sections 45 to 52 explain what partners own in the partnership property and what their rights and duties are in the partnership. However, if you and your partners make an agreement, either by writing it down or by understanding it together, that agreement can change these rules. This means you and your partners can decide how to handle your partnership in a way that works best for you, as long as you all agree.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS206044.


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"Partners can buy back or purchase a charged share in the business"


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Part 3Relationship of partners to third persons and to each other
Relationship of partners to one another

44Rules about interests and duties of partners

  1. The rules in sections 45 to 52 determine—

  2. the interests of partners in the partnership property; and
    1. their rights and duties in relation to the partnership.
      1. However, this section and those sections are subject to any agreement (express or implied) between the partners.

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