5/8/2011 Partnerships-meaning ·Elements: -Agreement -Business carried on -Partners share profits -Partners have mutual rights and obligations as principals Partnerships-creation Implications:whether partnership law principles apply. Test:objective intention of parties(Cox v Hickman). ·See also P0s4 When is there a partnership? ·Khan v Miah(2001) .Keith Spicer Ltd v Mansell 25/8/2011 2 3 Partnerships - meaning • Elements: - Agreement - Business carried on - Partners share profits - Partners have mutual rights and obligations as principals 4 Partnerships - creation • Implications: whether partnership law principles apply. • Test: objective intention of parties (Cox v Hickman). • See also PO s 4 • When is there a partnership?  Khan v Miah (2001)  Keith Spicer Ltd v Mansell