NOTES

Mutual rights and duties of partners

(1) after a change in the constitution of the firm,

(2) after the expiry of the term of the firm, and

(3) where additional undertakings or adventures are carried out.

(1) Rights and duties of partners after a change occurs in the constitution of the firm. Subject to contract between the partners, where a change occurs in the constitution of the firm, the mutual rights and duties of the partners in the reconstituted firm remain the same as they were immediately before the change, as far as may be [Sec. 17 (a)].

(2) Rights and duties of the partners after the expiry of the term of the firm. Subject to contract between the partners, where a firm constituted for a fixed term continues to carry on business after the expiry of that term, the mutual rights and duties of the partners remain the same as they were before the expiry, of the fixed term [Sec. 17(b)].

(3) Rights and duties of partners where additional undertakings or adventures are carried out. Subject to contract between the partners, where a firm constituted to carry out one or more adventures or undertakings carries out other adventures or undertakings, the mutual rights and duties of the partners in respect of the other adventures or undertakings are the same as those in respect of the original adventures or undertakings [Sec. 17(c)].