A Rubric of the Common Law

in this Act, except where the nature of the provision or the context of the Act shall exclude such construction, be interpreted as follows; that is to say, the word "inn" shall mean any hotel, inn, tavern, publichouse, or other place of refreshment, the keeper of which is now by law responsible for the goods and property of his guests; and the word "innkeeper" shall mean the keeper of any such place.

28 & 29 VICT. CAP. 86.

AN ACT to amend the Law of Partnership.

[5th July, 1865.]

WHEREAS it is expedient to amend the law relating to partnership: Be it therefore enacted by the Queen's most excellent Majesty, by and with the advice and consent of the Lords spiritual and temporal, and Commons, in this present parliament assembled, and by the authority of the same, as follows:

of money on receive a share

I. The advance of money by way of loan to a person engaged or about The advance to engage in any trade or undertaking upon a contract in writing with contract to such person that the lender shall receive a rate of interest varying with of profits not the profits, or shall receive a share of the profits arising from carrying to constitute on such trade or undertaking, shall not, of itself, constitute the lender a partner. partner with the person or the persons carrying on such trade or undertaking, or render him responsible as such.

the lender a

The remunera

II. No contract for the remuneration of a servant or agent of any tion of agents, person engaged in any trade or undertaking by a share of the profits of &c., by share of such trade or undertaking shall, of itself, render such servant or agent make them responsible as a partner therein, nor give him the rights of a partner. partners.

profits not to

annuitants not

III. No person being the widow or child of the deceased partner of a Certain trader, and receiving by way of annuity a portion of the profits made by to be deemed such trader in his business, shall, by reason only of such receipt, be partners. deemed to be a partner of or to be subject to any liabilities incurred by such trader.

profits in con

IV. No person receiving by way of annuity or otherwise a portion of Receipt of the profits of any business, in consideration of the sale by him of the sideration of sale of goodwill goodwill of such business, shall, by reason only of such receipt, be not to make deemed to be a partner of or be subject to the liabilities of the person partner. carrying on such business.

the seller a

In case of bankruptcy, &c.,

creditors.

V. In the event of any such trader as aforesaid being adjudged a lender not to bankrupt, or taking the benefit of any Act for the relief of insolvent rank with other debtors, or entering into an arrangement to pay his creditors less than twenty shillings in the pound, or dying in insolvent circumstances, the lender of any such loan as aforesaid shall not be entitled to recover any portion of his principal, or of the profits or interest payable in respect of such loan, nor shall any such vendor of a goodwill as aforesaid be entitled to recover any such profits as aforesaid until the claims of the other creditors of the said trader for valuable consideration in money or money's worth have been satisfied.

Interpretation of " "person."

VI. In the construction of this Act the word "person" shall include a partnership firm, a joint stock company, and a corporation.