Is a company governed by the ordinary rules of partnership?

Ontario, Canada

The following excerpt is from Hovey v. Whiting, 1887 CanLII 16 (ON CA):

It has been asserted on the authority of the well known case of Oakes v. Turquand, L.R. 2 H.L. 325, that such a company is a trading association governed by the ordinary rules of partnership, except so far as special conditions may be inserted into their constitution by the legislature, or by their own articles of association.

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