Persons liable by " Holding Out." "14. (I) Everyone who by words spoken or written or by conduct represents himself, or who knowingly suffers himself to be represented, as a partner in a particular firm, is liable as a partner to anyone who has on the faith of any such representation given credit to the firm, whether the representation has or has not been made or communicated to the person so giving credit by or with the knowledge of the apparent partner making the representation or suffering it to be made.
" (2) l'rovided that where after a partner's death the partnership business is continued in the old firm-name, the continued use of that name or of the deceased partner's name as part thereof shall not of itself make his executors' or administrators' estate or effects liable for any partnership debts contracted after his death.
Admissions and Representations of Partners.
"15. An admission or representation made by any partner concerning the partnership affairs, and in the ordinary course of its business, is evidence against the firm.
Notice to Acting Partner to be Notice to the Finn.
"1(3. Notice to any partner who habitually acts in the partnership business of any matter relating to partnership affairs operates as notice to the firm, except in the case of a fraud on the firm committed by or with the consent of that partner.
Liabilities of Incoming and Outgoing Partners.
" 17. (1) A person who is admitted as a partner into an existing firm does not thereby become liable to the creditors of the firm for anything done before he became a partner.
" (2) A partner who retires from a firm does not thereby cease to be liable for partnership debts or obligations incurred before his retirement.
" (3 A retiring partner may be discharged from any existing liabilities, by an agreement to that effect between himself and the members of the firm as newly constituted and the credi tors, and this agreement may be either express or inferred as a fact from the course of dealing between the creditors and the firm as newly constituted.
Revocation of continuing Guaranty by Change in Finn.
"18. A continuing guaranty or cautionary obligation given either to a firm or to a third person in respect of the transactions of• a firm is, in the absence of agreement to the contrary, revoked as to future transactions by any change in the constitution of the firm to which, or of the firm in respect of the transactions of which, the guaranty or obligation was given.
Dissolution by Bankruptcy, Death, or Charge.
"33. (1) Subject to any agreement be tween the partners, every partner ship is dissolved as regards all the partners by the death or bankruptcy of any partner.
" (2) A partnership may, at the option of the other partners, be dissolved if any partner suffers his share of the partnership property to be charged under this Act for his separate debt.
Rights of Persons dealing with Firm against Apparent 1Iembers of Firm.
"36. (1) Where a person deals with a firm after a change in its constitution he is entitled to treat all apparent members of the old firm as still being members of the firm until he has notice of the change.
" (2) An advertisement in the London Gazette as to a firm whose principal place of business is in England or Wales, in the Edinburgh Gazette as to a firm whose principal place of business is in Scotland, and in the Dublin Gazette as to a firm whose principal place of business is in Ireland, shall be notice as to persons who had not dealings with the firm before the date of the dissolution or change so advertised.
" (3) The estate of a partner who dies, or who becomes bankrupt, or of a partner who, not having been known to the person dealing with the firm to be a partner, retires from the firm. is not liable for partnership debts contracted after the date of the death, bankruptcy, or retirement respectively.
Continuing A Who, of Partners for Purposes of II" Biding up.
" 38. After the dissolution of a partnership the authority of each partner to bind the firm, and the other rights and obligations of the partners, continue notwithstanding the dissolution so far as may be necessary to wind up the affairs of the partnership, and to complete transactions begun but un finished at the time of the dissolution, but not otherwise.
" Provided that the firm is in no case bound by the acts of a partner who has become bankrupt ; but this proviso does not affect the liability of any person who has after the bankruptcy represented himself or knowingly suffered himself to be represented as a partner of the bankrupt." (See COMPANIES, LIMITED PARTNERSHIP.)