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Trouble was a-brewing for a tea industry partnership business business law partnership agreements supreme court May 29, 2024

A partnership agreement will typically contain a provision specifying what happens if a partner wishes to exit the partnership - for example, in the case of retirement. The agreement will then typically also contain a provision specifying how the outgoing partner's share in the partnership...

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Dissolving a business partnership in the absence of a partnership agreement business business agreements partnership agreements May 06, 2019

The Supreme Court made orders in 2017 regarding the winding up of a partnership that operated a real estate agency.  The two former partners agreed upon the existence and duration of their partnership, and upon a need for partnership accounts to be taken under the supervision of the Court,...

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Getting out of a partnership - the importance of the partnership agreement business business agreements partnership agreements Nov 15, 2017

A recent Supreme Court decision (Cole v Lee [2017] NSWSC 1011) has highlighted the importance of having a Partnership Agreement and following the provisions of said Agreement when looking to terminate or retire from the partnership.

Background to the matter

The plaintiff (Ms Cole) operated a...

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But we're friends - we don't need a partnership agreement business business agreements partnership agreements startup business Feb 22, 2017

Just because you’re friends doesn’t mean that you won’t run into problems when you open up a business together. The same applies if you go into business with family members – you still need to treat it as a commercial transaction, and put all the necessary devices in place...

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What does it mean to be proactive, rather than reactive business contract law employment law litigation partnership agreements Feb 01, 2016

We have all heard of the saying – “be proactive, rather than reactive” – but what does that actually mean, particularly when you are talking in the context of a business? It means taking steps sooner rather than later to avoid issues arising, rather than only taking steps...

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