51 Return
of premium on premature dissolution.-
Where a partner has paid a premium on entering
into partnership for a fixed term, and the firm
is dissolved before the expiration of that term
otherwise than by the death of a partner, he
shall be entitled to repayment of the premium
or of such part thereof as may be reasonable,
regard being had to the terms upon which he
became a partner, and to the length of time
during which he was a partner, unless –
(a) the dissolution is mainly
due to his own misconduct, or
(b) the dissolution is in
pursuance of an agreement containing no provision
for the return of the premium or any part of
it.
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