Peter Matu, who is 80 years old, is a partner in a manufacturing firm. He intends to transfer his shares to his daughter Mary Kinga but he does not know the rights of an assignee in a partnership.
Advise Peter Matu on the rights and obligations that Mary Kinga would accrue as an assignee
Mary Kinga will accrue the following rights and obligations as an assignee
- She is entitled to receive the share of profits which the assignor was entitled
- She receives the share of the assignor in case of dissolution of the partnership.
- She is not personally liable for the debts of the firm if she is a minor
- She is entitled to attend meetings of the firm but not to note or contribute in the deliberations.
- She is not entitled to inspect the books of account of the partnership.
- She is not entitled to interfere with the management of the firm.