Acts and Regulations

P-4 - Partnership Act

Full text
Writ of execution
24(1)Subject to section 74 of the Enforcement of Money Judgments Act, enforcement action under that Act shall not be taken against any partnership property except on a judgment against the firm.
24(2)Repealed: 2013, c.32, s.28
24(3)Repealed: 2013, c.32, s.28
R.S., c.167, s.24; 1979, c.41, s.92; 2013, c.32, s.28
Writ of execution
24(1)A writ of execution shall not issue against any partnership property except on a judgment against the firm.
Liability of partner respecting judgment creditor
24(2)The Court of Queen’s Bench of New Brunswick or a judge thereof may, on the application by summons of a judgment creditor of a partner, make an order charging that partner’s interest in the partnership property and profits with payment of the amount of the judgment debt and interest thereon, and may by the same or a subsequent order appoint a receiver of that partner’s share of profits, whether already declared or accruing, and of any other money that may be coming to him in respect of the partnership, and direct all accounts and inquiries, and give all other orders and directions that might have been directed or given if the charge had been made in favour of the judgment creditor by the partner, or that the circumstances of the case may require.
Redemption of interest by remaining partners
24(3)The other partner or partners are at liberty at any time to redeem the interest charged, or in case of a sale being directed, to purchase the same.
R.S., c.167, s.24; 1979, c.41, s.92