Dictionary

  • Quasi-partnership

    A partnership is a form of business relationship recognised at law. A quasi-partnership is an implied partnership such as that of joint parties who may conduct a business venture together and have legitimate, partnership-type expectations of each other, regardless of the fact that the business is not formally conducted as a legal partnership pursuant to the relevant Partnership Act.

    There have been several ‘quasi-partnership cases’ in Australian courts, where companies have been wound up due to irreconcilable disputes between co-directors who were not legally conducting a partnership, but a business relationship which closely resembled one.

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