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

Assignment Help:

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.


Related Discussions:- Recovery of premium - s. 44

Issuing shares at a discount - allotment of shares, Issuing shares at a dis...

Issuing shares at a discount: In Ooregum Gold Mining Co of India Ltd v Roper (45) the House of Lords held that it is illegal for a limited company to issue its shares at a dis

Restricted names - name clause , Restricted Names:  Section 17)1) of t...

Restricted Names:  Section 17)1) of the Registration of Business Names Act provides that no company shall be registered under a business name: (a)     which contains any wo

Find out the tort, 1. Chuck walked into a room. As a joke, Matt stuck his l...

1. Chuck walked into a room. As a joke, Matt stuck his leg out so that Chuck would trip Chuck tripped and in so doing, dropped the bottle of soda he was carrying. In the

Determine the name and elements of the tort, Sue owns a car that has 150,00...

Sue owns a car that has 150,000 miles on it, but otherwise looks to be in very good condition. She advertises to sell the car and Ken asks her how many miles are on the c

Explain the limitations to the economic rights, Question 1: (a) Expliqu...

Question 1: (a) Expliquez les conditions qui doivent être réunis pour la formation d'un contrat. (b) Expliquez les differentes modes selon lesquels un contrat peut prendre

Probabilistic operations research assignment help, Need help in a journal p...

Need help in a journal paper review. The following are the criteria: - Choose a journal paper in the general area of probabilistic operations research - recently published

Plan the disciplinary interview, Question: You are the manager of a res...

Question: You are the manager of a restaurant and receive a letter from a customer complaining about the quality of service and the rudeness of one member of your staff. You ha

Discuss the law relating to the rights and duties, QUESTION 1 Your moth...

QUESTION 1 Your mother makes delicious cakes and your wife suggests the idea of setting up a business to market these products. The cakes will be prepared by your mother and a

Who is liable to income tax?, QUESTION 1 Discuss the legal relationship...

QUESTION 1 Discuss the legal relationship between a bank and its customer with reference to the responsibilities of the parties towards each other QUESTION 2 (a) Examin

Insurance law, Eagle Sales Company owns a warehouse, subject to a mortgage ...

Eagle Sales Company owns a warehouse, subject to a mortgage obtained from First National Bank. Separately, Eagle and First National obtain insurance policies from Good Hands Insura

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd