Tait v RGM Solicitors and others

Partnership – Partnership agreement – Construction – Profits and losses and partner shares. Court of Session: Allowing the defenders' appeal in an action in which a former partner of a solicitors' partnership sought an account and certain sums from the partnership and two of the partners, and the defenders counterclaimed for payment by the pursuer of the deficit in his capital account, the court held that the pursuer's construction of the relevant clause of the partnership agreement was wrong and he was not entitled to £36,000 pa and 20% of the net profit of the court department even in a situation where, as was the case, there were no net profits of the firm as defined in the agreement, and the defenders were entitled to repayment of any payments made to him as 'drawings' for the relevant period.

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