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Example:
If Julie advances RM50,000 to a firm and the firm repays her
by ten monthly instalments of RM5,000 each, Julie is not a
partner of that firm.
Case : Badeley v Consolidated Bank
Held: from the facts, P was merely a servant and was not a
partner.
S.4(c)(iii) : Annuity to widow or child of a deceased partner.
Example:
Kelvin sold his business to Ah Kong Motors together with his
goodwill in exchange for a 40% commission on the profits.
Held: the vendor / seller of the practice i.e. the doctor was not
a partner of the purchaser as there was no intention that a ps
was to be established.
~Thank you~