Dissolution Of Partnership PDF

11/10/2022 NHAS Dissolution of Partnership 1 DISSOLUTION OF A PARTNERSHIP Without court’s intervention By court’s order NHAS Dissolution of Partnership 2...

11/10/2022 NHAS Dissolution of Partnership 1 DISSOLUTION OF A PARTNERSHIP Without court’s intervention By court’s order NHAS Dissolution of Partnership 2 1  11/10/2022 Without Court Intervention a. S. 34 (1)(a) & (b): subject to agreement partnership for fixed term and the term expires; Partnership for a single adventure / undertaking and it was terminated. b. S. 35 (1): subject to agreement Death; Lee Choo Yam Holdings Sdn. Bhd. v. Khoo Yoke Wah & Ors. ]1990] 2 MLJ 431 Khoo Yoke Wah v Lee Choo Yam Holdings Sdn. Bhd. 1 MLJ 414 Wu Shu Chen v Raja Zainal Abidin bin Raja Hussin 2 MLJ NHAS 487 Dissolution of Partnership 3 Contd. Bankrupt c. S.35(2) –a partnership may, at the opinion of the other partner be dissolved if any partner suffers his shares of a partnership property to be charged for his separate debt.. d. Illegality of partnership HudgellYeates & Co. v Watson 2 All ER 363 per Waller LJ 371 NHAS Dissolution of Partnership 4 2  11/10/2022 e. Dissolution by notice S. 28 (1) – when no term fixed S.34 (1)(c) – if the partnership is for an undefined time, any partner may give notice to other partner (s) of his intention to dissolve the firm. S.34(2) – in such manner, dissolution commence on the date specified in the notice as the dissolution date. If no date is specified, from the date of the communication of such notice. Tham Kok Cheong & Ors v Low Pui Heng (1966) 1 MLJ 52 Sukhinderjit Singh Muker v. Arumugam Deva Rajah 2 MLJ 117 NHAS Dissolution of Partnership 5 DISSOLUTION BY COURT’S ORDER S.37 – On application by a partner, the court may decree a dissolution of the partnership in any of the following cases: a. Unsound mind b. permanently incapable of performing his part of the e. partnership can only partnership contract be carried on at a loss c. Conduct prejudicially to the Jennings v Baddeley business of the firm 3 K & J 78 Essell v. Hayward *1960) Beav. f. just and equitable 158 d. willfully or persistently commits g. Re Yenidje Tobaco a breach of the partnership Co. Ltd. (19160 2 Ch. agreement 426 J.M.M. Lewis & ors v W.E. Balasingam (1970) 1 MLJDissolution NHAS 133 of Partnership 6 3