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Section 771 Companies and Allied Matters Act (CAMA) 2020

Section 771 CAMA 2020

Section 771 Companies and Allied Matters Act is about Obligation to contribute. It is under Chapter 5 (Contributions) of the Act.

(1) An obligation of a partner to contribute money, property or other benefit or to perform services for a limited liability partnership shall be in accordance with the limited liability partnership agreement.

(2) A creditor of a limited liability partnership, which extends credit or otherwise acts in reliance on an obligation described in that agreement, without notice of any compromise between partners, may enforce the original obligation against such partner.

See also  Section 79 Companies and Allied Matters Act 2020

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