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Good morning Mike.
I was not sure about the part of three points in the dissolution of partnerships. May I ask you three small questions about them?
1. if a partner uses their share as a security in a private debt- e.g. they take out a private loan on using the partnerships assets as security, have I understood that correctly?
2. a notice can dissolve a ‘partnership of will’. but can it be used to dissolve a fixed period partnership, if that is not specified in the private agreement?
3. on just and equitable grounds- what does this mean in a practical sense?
Thank you for your ongoing help. I appreciate it.
1) Yes
2) No – it’s a partnership for a fixed term so you’re locked in to it
3) I illustrate these by quoting cases in the lectures! he case of Ebrahimi v Westbourne Galleries is a case about a quasi-partnership that was dissolved by the court under just and equitable principles
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