Running the business

The general provision in the act is that all partners do things, and share things, on an equal basis. Thus for instance if there is a dissolution and there are no agreed provisions about how the assets are to be divided up these will be shared equally. Clearly this could have catastrophic results for the property owning partners where the premises form part of the partnership capital.

Thus if any of the structures are to be different from equal sharing etc, provision must be made in a partnership deed.