Contracts Act · s 211

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s 211Account to firm of benefit derived from transaction affecting partnership

A partner must account to the firm for any benefit derived from a transaction affecting the partnership.

Illustrations

(a)

A, B and C are partners in trade. C, without the knowledge of A and B, obtains for his own sole benefit a lease of the house in which the partnership business is carried on. A and B are entitled to participate if they please, in the benefit of the lease.

(b)

A, B and C carry on business together in partnership as merchants trading between

Brunei Darussalam and London. D, a merchant in London, to whom they make their consignments, secretly allows C a share of the commission which he receives upon such consignments, in consideration of C’s using his influence to obtain the consignments for him. C is liable to account to the firm for the money so received by him.