If a partnership deed is silent on how profits are to be shared, partners share...

Explanation

If the partnership deed is silent on how profits are to be shared, it means that the partnership agreement does not specify how the profits should be divided among the partners. In this case, the default rule is that the partners will share the profits equally, regardless of their capital contributions or the value of the business secured by each partner.

This means that each partner will receive an equal proportion of the profits, regardless of how much money they invested in the partnership or how much business they brought in. So, if there are two partners in the partnership, they would each receive half of the profits. If there are three partners, they would each receive one-third of the profits, and so on.

It is important to note that this default rule only applies when the partnership deed is silent on profit sharing. If the partners want to divide the profits in a different way, they can include specific provisions in the partnership deed to reflect their desired allocation of profits. This allows partners to customize the profit sharing arrangement based on their individual circumstances and agreements.

In summary, if a partnership deed is silent on how profits are to be shared, the partners will share the profits in an equal proportion, irrespective of their capital contributions or the value of the business secured by each partner.