In undocumented partnerships where one partner contributes disproportionate labour and capital, a court may infer from the parties' objective conduct and surrounding circumstances — including inequality of contributions, dependency, and assumption of responsibility — that the partnership agreement includes a term for reasonable remuneration and interest on capital, displacing the default rules in ss 28(4) and 28(6) of the Partnership Act 1958 (Vic). Consent to a taking of accounts from a date beyond the limitation period may constitute waiver of a limitation defence by election, even where the specific claim had not yet been formally articulated at the time of consent.
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