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Rights and duties of a partner after reconstitution

  • The mutual rights and duties of partners in a reconstituted firm remain the same as they were immediately before the change. However this is subject to an agreement to the contrary between the partners
  • Where a firm constituted for a fixed term continues to carry on the business after the expiry of that term, it will be treated as partnership at will and there will be no changes in their mutual rights and duties, subject to an agreement to the contrary between the partners
  • When a firm is constituted for a particular venture or undertaking and if the firm takes one or more ventures, then the mutual rights and duties will be the same as those in respect of the original venture or undertaking




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