Recovery of premium - s. 44, Business Law and Ethics

Recovery of Premium - S. 44

One partner has paid a premium for another on entering in a partnership to a fixed term such and the partnership is dissolved previous to the expiry of the term, if not than through the death of a partner so then the Court may order the repayment about such part of the premium like it thinks just. The Court will have regard for the terms of the partnership contract and such length of time during that the partnership has continued. Further in the absence of extraordinary circumstances so like the proportionate part for be returned is such amount that bears the same ratio for the original premium as the unexpired term bears for the original term there.

 However the partner has no claim foro repayment like:

(a) The dissolution is, in the opinion of such Court, due wholly or chiefly for his misconduct; may one is

(b) The partnership is dissolved through an agreement containing no provision to a return of any part of the premium.

Posted Date: 1/30/2013 7:53:43 AM | Location : United States







Related Discussions:- Recovery of premium - s. 44, Assignment Help, Ask Question on Recovery of premium - s. 44, Get Answer, Expert's Help, Recovery of premium - s. 44 Discussions

Write discussion on Recovery of premium - s. 44
Your posts are moderated
Related Questions
DIVIDENDS: As a commercial term, the word "dividends" has a variable meaning which depends on the context in which it is used. For purposes of company law, it denotes the paym

Determine the term - cyclic majority voting The cyclic majority voting, a problem first recognized by Marquis de Condorcet in 1785, the indeterminacy of voting process, has bee

Third Reading: Now next is offers in Order 112(1) which is on the adoption of a report on a Bill the Third Reading may regarding leave of Mr. Speaker be taken forthwith and wh

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Determine the example of a relational contract A characteristic macro example of a relational contract with a strong lock-in effect is membership of a currency community. Self-

Self-Confidence: Entrepreneurs are self-confident and tackle problems immediately with confidence and are persistent in the pursuit of their objectives. Most are at their best in

QUESTION 1 What are the consequences of a unilateral modification of a contract of employment of indeterminate duration by an employer? QUESTION 2 (a) In what circumsta

Experience Law This is a law of marketing beginning that the unit cost of value added to a standard goods, calculated in constant currency, declines by a constant percentage ea

STATUTE LAW: There this is an Act of Parliament.  Whether this is law made through parliament directly in exercise of legislative power conferred upon it through the constitut

Describe the policy making realities Rational models simply do not describe policy making realities. As policy actors seldom evaluate very many alternatives for action or compa