Abstract:
In an important decision on partnership law, the Court of Appeal recently considered the liability of current and former salaried partners for contractual obligations incurred by the firm. In doing so the court analysed the law applicable to the authority of partners generally. The liability position of salaried partners rests on a different legal basis from that of true partners and the extent of that difference, in particular in relation to obligations incurred after the partner’s retirement, was at issue.