ADVOKS GLOBAL · KENYA
Partnerships Act
12. Share of profits and losses.
Edition: 2022-12-31 · In force
12. Share of profits and losses.
(1)A partner is entitled to share equally in the profits of the partnership and is liable to contribute equally towards the losses incurred by the partnership in equal proportions.(2)A partner is not entitled to a share in the profits of the partnership, and is not liable to contribute to any losses incurred by the partnership, before he became a partner.(3)The estate of a partner who dies is liable for debts and obligations incurred by the partnership after becoming partner.