New South Wales Consolidated Acts
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PARTNERSHIP ACT 1892 - SECT 29
Accountability of partners for private profits
29 Accountability of partners for private profits
(1) Every partner must account to the firm for any benefit derived by the
partner without the consent of the other partners from any transaction
concerning the partnership, or for any use by the partner of the
partnership property, name, or business connexion.
(2) This section applies
also to transactions undertaken after a partnership has been dissolved by the
death of a partner, and before the affairs thereof have been completely wound
up, either by any surviving partner or by the representatives of the deceased
partner.
(3) This section does not apply to or in respect of an
incorporated limited partnership.
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