Default terms — profit share and salary (s.24 PA 1890)

Two individuals run a graphic-design business as a partnership. There is no written partnership agreement. One partner contributed £80,000 of the start-up capital and the other contributed £20,000. Over the first year one partner worked full time on the business while the other worked only occasionally, and the full-time partner now argues she should receive a salary for her extra work and a larger share of the £50,000 profit to reflect her capital and effort. The other partner disagrees. The partners cannot resolve the dispute and ask how the default rules of partnership law apply. Which of the following best describes the position under the default rules?