J. Lambek and G. Michler [3] have initiated the study of a ring of quotients RP associated with a two-sided prime ideal P in a right noetherian ring R. The ring RP is the quotient ring (in the sense of [1]) associated with the hereditary torsion class τ consisting of all right R-modules M for which HomR(M, ER(R/P)) = 0, where ER(X) is the injective hull of the R-module X.In the present paper, we shall study further the properties of the ring RP. The main results are Theorems 4.3 and 4.6. Theorem 4.3 gives necessary and sufficient conditions for the torsion class associated with P to have property (T), as well as some properties of RP when these conditions are indeed satisfied, while Theorem 4.6 gives necessary and sufficient conditions for R to satisfy the right Ore condition with respect to (P).