PARTNERSHIP ACT, 1890
The Partnership Act, 1890, outlines the general principles governing partnerships in Ireland, primarily defining the relationship between individuals engaged in a joint business venture. It establishes rules on the formation, operation, and dissolution of partnerships, rights, and responsibilities of partners, including matters related to profit sharing, liability, and authority within the partnership. Significant for its introduction of key concepts such as joint and several liabilities, the legislation provides a foundational legal framework that guides the conduct of business partnerships, ensuring clarity and regulation in commercial relationships.
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