§ Order of the Day for the Second Reading, read.
1524§ LORD BRAMWELL, in moving that the Bill be now read a second time, said, that as his noble and learned Friend on the Woolsack stated that the Bill which had lately been under discussion was recommended by mercantile people, so he would begin by saying that this Bill was recommended by the Associated Chambers of Commerce. The principle of the measure was to enable several persons to be united in partnership of whom one or more should be liable under the ordinary terms of partnership, while one or more should be liable only to a definite and limited amount. If he should be asked to what use the powers thus given could be put, he would quote the answer which he gave to a similar question when Limited Liability was under discussion—it was impossible to say. There was scarcely any case in which the Bill might not be applicable. Suppose a man was carrying on a private business and that illness made him desirous to retire. He might have got children or old servants whom he wished to assist in continuing the business. But he did not want to continue a partner so as to be liable to his last acre or his last shilling, though he was willing to stake a certain amount for which alone he should be liable. The principle of the Bill seemed to him a perfectly right one, and therefore he asked their Lordships to read it a second time.
§ Moved, "That the Bill be now read 2a."—(The Lord Bramwell.)
§ Motion agreed to; Bill read 2a accordingly.