Partnerships and sale of companies

[littlealison]

I can't find anywhere else this fits in, but I need to ask questions.

Reading old 19th century newspapers about different companies, change of partnership and so on (Mostly of course about glassworks, which I keep going on about...)....I have gathered that when a new partnership was formed, they didn't have to put a notice in the paper - but when a partnership broke up, then they did. Was that obligatory, or not?

And when a new partnership was formed, the works had in effect to be sold to the new company?
Have I got this right?

[Alan SHARP]

I can't find anywhere else this fits in, but I need to ask questions.

.....Edit.......And when a new partnership was formed, the works had in effect to be sold to the new company?
Have I got this right?

Greetings from New Zealand.

Even back then I believe you will find that PARTNERSHIPS and COMPANIES are two totally different beasties. Here is my layman’s thoughts.

RE Companies - Editorial and advertorial press about companies would be about advising of a change of management and or policy for the benefit of custom / customers; new product range or better / cheaper product from the adoption of more modern practices; change of address for service; change of ownership of the controlling shares in said company; sale or assignment of large parcels of shares of the company; public notification to meet any legal requirement of the times [less regulation in those times]; public notification when business being wound up, giving claimants a final opportunity to make their claim/s for payment upon the business; Public offering of a business for sale or privately negotiated sale of the business. The sale could take many forms from whole going concern, or of divisions of, or of components like, the interlectual property, good will [customer data base] manufacturing chattels, premises [lease / purchase thereof] etc.

RE Partnership - A partnership is when two or more persons conduct business as one registered identity. Often in small business, or in professional service business. Partners to the business will have registered interests, stating the size of their portions. From time to time, any one partner may die, or other wise relinquish their portion of the partnership, and when this happens the business, if still having two or more partners, can still carry on business, as usual as far as service to it's customers is concerned.

Also in the case of the death of a partner, it is possible that provision has been made in that partners will, that their trustees of the estate, have an option of retaining the partnership interest. In these cases you will see a name change in the articles of the partnership [not necessarily, in the day to day trading name] where the affected partners name will change; from partner X, to the Estate of partner X. In cases like this you may not see much info, about the change recorded in the press of the day.

I farmed in partnership with my wife [50 / 50] until the day she died, and because it was her wish, as provided for in her will, from that day on our business continued on, as usual, with the primary aim, of continuing to meet the needs of our family. Henceforth I was in business in a 50 / 50 partnership with the Estate of my wife, and the decision making changed from with her, to with the trustees whom the will provided for.

Alan SHARP.

[Currie]

Hello Alison,

I’ve stumbled upon mention of the winding up of partnerships in the Edinburgh and other Gazettes, as well as in the newspapers, but can’t recall seeing anything there about the formation thereof. Not that I’ve ever intentionally searched there for such a thing. I guess that with a winding up there is the matter of creditors to consider.

“The Manual of the Law of Scotland”, published 1847, has a section on Contracts involving Copartnership. http://books.google.com.au/books?id=pYM ... J&pg=PA176

There’s a later section on Insolvency and Bankruptcy. There are probably a few variables to consider and possibly differences between English and Scottish law. I don’t know how long those guidelines were valid before there was a change in the law, if any.

You could have a read of that and see how you go.

All the best,
Alan

[littlealison]

Alan (Sharp) I'm not trying to equate a partnership with a company....what I started with was a puzzle as to why the bottle works were offered for sale so often, as shown in the newspapers!
I will read this again when not sleepy!

Alan (Currie) I will have to read this carefully - written 1847 I see, right sort of period....

While I am on this, I also (still) want to know if John Little could be a partner in Stevenson & Little and also be a partner in Borron & Co through the 1860s....
It seems he was a partner with Borron and his son (until 1872 when Borron Snr opted out), and the time that makes sense for him to become a partner is in 1861-2, when Borron Jnr was 21 and John Little started in Stevenson & Little.....?
I am assuming now that this venture (to experiment with the new regenerative furnace) was partly under the auspices of the elder Borron.