Partnership property

1.All property and rights as well as interest of property acquired via partnership accounts
and stocks shall be deemed to be partnership property and shall be held by every
members only for partnership purposes which is in accordance with partnership
agreement (Sect. 22
2. All property bought using partnership money from the firm!s account will be deemed
to be partnership property (Sect. 2"
". #nless contrary appeared$ all property bought by partners individually for the
partnership purposes shall be rendered as partnership property and not personal property
of the said partner.
%. All partners are bound to disclose true accounts and full information in any transaction
that he has involved in that will affect the partnership (Sect. "&
'. All partners are bound to account to the firm any benefit or profit that he has obtained
from any transaction concerning the partnership or any use by him of the partnership
property$ name$ or business connection (Sect. "1 (1
(. Any partner who enters into any business of the same nature of the firm shall be render
liable to pay over the firm all the profits obtained from that business (Sect. "2.
)issolution
1. Sub*ect to any agreement between the partners$ dissolution shall take place when
one of the partners giving notice to other partners of his intention to dissolve the
partnership. +otice in writing must be given to other partners within one month
before the date of the dissolution. ,n the e-piration of the said period$ the
partnership shall be dissolved accordingly (Sect. "% (1 (c.