In force2023 Revised EditionCurrent version · 2023 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Contracts Act · 2023 Revised Edition · Part · Partnership
Contracts Act · 2023 Revised Edition · Part · Partnership
Official textFrom Attorney General's Chambers, unchanged
Where there are joint debts due from the partnership and also separate debts due from any partner, the partnership property must be applied in the first instance in payment of the debts of the firm, and, if there is any surplus, then the share of each partner must be applied in payment of his
Contracts separate debts or paid to him. The separate property of any partner must be applied first in the payment of his separate debts, and the surplus (if any) in the payment of the debts of the firms.