When is a partnership at will?
A partnership is at will when the partners have not agreed a fixed period and have not agreed that it ends when a particular adventure is completed. Section 7 says so. Any partner may then dissolve the firm by written notice. A firm for a term, or for one adventure, is not at will.
When is it at will?
If the deed is silent on duration, the firm is at will. Section 43 lets a partner dissolve it by notice in writing. The dissolution takes effect from the date the notice names, or from the date of communication if the notice names none. Carrying on after a fixed term, without a fresh agreement on duration, also makes the firm at will from then on.
What are the other kinds?
A partnership for a fixed term lasts for the period the deed states. A particular partnership, under section 8, is for a single adventure or undertaking. Neither ends merely because one partner would prefer to leave, unless the deed allows retirement. How a partner retires is on the retirement page. Who counts as a partner is on the partners page.
What is not a kind of partnership?
An LLP is not a partnership under the 1932 Act. The difference is on the LLP page. Registering the firm with the Registrar of Firms does not change whether it is at will. It does decide what section 69 lets the firm sue for. That limit is on the section 69 page.
Frequently asked questions
Four questions cover notice, a fixed term, an LLP, and registration.
Can any partner end a partnership at will?
Yes. Section 43 lets a partner dissolve a partnership at will by giving written notice of the intention to dissolve. The firm dissolves from the date named in the notice, or from the date the notice is communicated if no date is named.
Is a fixed-term firm at will?
No. If the deed fixes a period, the partnership is for that period. It does not become at will until that period ends and the partners carry on without a new agreement.
Is an LLP a partnership at will?
No. An LLP is a body under the Limited Liability Partnership Act. Leaving an LLP follows that Act and the agreement, not section 43 of the Partnership Act.
Does registration change the kind of partnership?
No. Registration with the Registrar of Firms does not turn an at-will firm into a fixed-term firm. It does affect what an unregistered firm can sue for.
Sources
A partnership at will is section 7 of the Partnership Act, 1932. Dissolution by notice is section 43. A particular partnership is section 8.