Personal profits after dissolution: surviving partners' post-dissolution transactions governed by partnership fiduciary rule; goodwill purchase preserves firm name. Subject to any contract between partners, transactions by a surviving partner or by representatives of a deceased partner undertaken after dissolution on account of death are governed by the rule in clause (a) of section 16 until the firm's affairs are completely wound up; purchase of the firm's goodwill preserves the right to use the firm name.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Personal profits after dissolution: surviving partners' post-dissolution transactions governed by partnership fiduciary rule; goodwill purchase preserves firm name.
Subject to any contract between partners, transactions by a surviving partner or by representatives of a deceased partner undertaken after dissolution on account of death are governed by the rule in clause (a) of section 16 until the firm's affairs are completely wound up; purchase of the firm's goodwill preserves the right to use the firm name.
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