Lord Bramwell discussed the capitalisation of undistributed profis within a partnership: ‘Where there is a partnership, whether an ordinary partnership or an incorporated partnership . . There the undivided profits of any period, a year or shorter or longer time, continue to be undivided profits unless something in the articles of partnership or some agreement by all the partners make them capital. They do not become capital by effluxion of time or by their being used in the trading’.
Citations:
(1887) 12 App Cas 385
Jurisdiction:
England and Wales
Cited by:
Cited – Hopper and Another v Hopper CA 12-Dec-2008
Appeals were made after an order declaring an account a between former partners in a wholesale fruit and vegetable business. The dispute related to the applicability of limitation to undrawn profit shares, and the doctrine of Laches.
Held: The . .
Lists of cited by and citing cases may be incomplete.
Company
Updated: 02 May 2022; Ref: scu.278695