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Mutual rights and liabilities

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Full Text of the Document

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....en the partners— (a) a partner is not entitled to receive remuneration for taking part in the conduct of the business; (b) the partners are entitled to share equally in the profits earned, and sha....

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Full Text of the Document

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....) the firm shall indemnify a partner in respect of payments made and liabilities incurred by him— (i) in the ordinary and proper conduct of the business, and (ii) in doing such act, in an emergenc....