If the partnership does not have a deed, it will be governed by the terms of the Partnership Act 1890.
The law relating to partnerships is regulated by the Partnership Act 1890.
Business is defined for the purpose of s. 45 of the Partnership Act 1890 as including 'every trade, occupation or profession'.
It is these terms and conditions in conjunction with the Partnership Act which will regulate the running of the enterprise.
This is provided for by s. 29 of the Partnership Act 1890.
According to the Partnership Act 1890 a partnership is an association of persons carrying on a business in common with a view to profit.
The idea behind the Partnership Act is that the internal affairs of the partnership are for the partners to decide.
Registered partnerships have been recognized since 1 January 2007, when the Partnership Act came into force.
It is expensive, costing more than $15,000 a year for each training slot compared with a cap of $4,900 under the Partnership Act.
The Partnership Act which permitted these unions was enacted on 9 July 2004.