ACCA LW ^Eng Syllabus D. The Formation And Constitution Of Business Organisations - Discuss The Formation Of A Partnership - Notes ^{2 / 5}

Partnership Agreements are made

However, any aspect of the partnership not covered by the agreement, is governed by the PA 1890. 

Some of the Partners' main rights in this act are:

1. To share profits equally

2. To be indemnified by the firm for any liabilities

3. To take part in the management of the business

4. To have access to the firm's books

5. To prevent admission of a new partner

Where a business relationship meets the definition of a partnership - this agreement applies - unless there's another agreement made