But if the partners would not have been disposed to agree to...

But if the partners would not have been disposed to agree to exercise discretion over each others' stock or property had they known that the partnership was not valid, yet they approve the particular transaction, it will be valid - and if they do not, it will be invalid. And in either case, if any partner has worked for the partnership without the previous intention to work gratis, he can collect the wages for his services at the usual rate, considering the percentage of other partners.

But if the usual wage is more than his share of dividend, after having agreed to the validity of the transaction, he should take the dividend only. Orders Regarding Compromise Issue 2168: * Compromise means that a person agrees to give to another person his own…