Partnership Act 1890

The Partnership Act 1890 is a key piece of legislation in the UK that defines and regulates partnerships, which are business arrangements where two or more people work together. It outlines how partnerships are formed, the rights and responsibilities of partners, and how profits and losses are shared. The Act also addresses the management of the partnership, decision-making processes, and the legal framework for resolving disputes. Essentially, it aims to provide clarity and structure for partners engaging in business, ensuring that everyone understands their role and obligations within the partnership.