ICAEW BL · Chapter 7 · Question 7 of 10
In the absence of any contrary agreement, which of the following decisions requires the consent of ALL partners under the Partnership Act 1890?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Admitting a new partner
Explanation
Section 24 provides that ordinary matters connected with the partnership business may be decided by a majority of partners. However, no person may be introduced as a partner without the consent of all existing partners (s24(7)), and the nature of the business cannot be changed without unanimous consent (s24(8)). Stock orders, hiring staff and banking arrangements are ordinary matters.
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