Rights of the partners.

Rights of the retired partner:

1.to carry on competing business:

A retired partner may carry on a business competing with that of the firm and he may advertise such business, but, subject to contract to the country he may not-

a.use the firm name,

b.represent himself as carrying on the business of the firm, or

c.solicit the custom of persons who were dealing with the firm before he caused to be a partner.

2.to share subsequent profits:

Where a partner dies or otherwise ceases to be a partner, and there is no final settlement of accounts between the legal representatives of the deceased partner or the retired partner and the surving or continuing partners, and they carry on business with the property of the firm.

a. such share of the profits earned after the death or retirement of the partner which is attribute to the use of his share of the property of the firm.

b. intrest at the rate of six per cent per annum on the amount of his share in the property.