Can majority partner sell building asset without the consent of the minor partner?

[steveyd]

Hi,

Can any one tell me the following?

In a partnership of two people (one being majority partner). CAn the majority partner sell building asset of the partnership without the consent of minor partner?


Thanks, any info would be helpful.

 

[Graham_07]

Re: Partnership law query

Since you mention that the partnership is not an equal one, i.e. majority / minority, then terms relating to business assets ( among other matters) should all be set out in the partnership agreement anyway, you need to check that document.

 

[ajapale]

Re: Can majority partner sell building asset without the consent of the minor partner

Ive expanded the title "Partnership law query" somewhat to reflect the question more accurately.

 

[efm]

Re: Can majority partner sell building asset without the consent of the minor partner

Ive expanded the title "Partnership law query" somewhat to reflect the question more accurately.

eh..no you haven't!

 

[Vanilla]

Also you'll have to post details of how the asset is held- in joint names? Or other wise? Assume by building asset you mean property? It's a little unclear.

 

[Purple]

Was the building owned by the partnership or by one partner and rented by the partnership? Are you in fact a limited company?