Verfügbarkeit: Partnership and LLP law | Technische Universität München

Partnership and LLP law:

Gespeichert in:

Bibliographische Detailangaben
Beteilige Person:	Morse, Geoffrey (VerfasserIn)
Format:	Buch
Sprache:	Englisch
Veröffentlicht:	Oxford Oxford University Press [2015]
Ausgabe:	Eighth edition
Schlagwörter:	Personengesellschaft Gesellschaftsrecht Limited liability partnership Großbritannien
Links:	http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=028650788&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=028650788&sequence=000002&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA
Beschreibung:	7. Auflage unter dem Titel: Morse, Geoffrey: Partnership law
Umfang:	xlvii, 384 Seiten

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Datensatz im Suchindex

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adam_text	Partnership and LLP Law Eighth Edition Geoffrey Morse This book covers the essential principles of both partnership law and the law relating to limited liability partnerships. In addition to explaining established principles, it explores the surprising number of still unresolved issues in partnership law. including fixed share partners and whether partners can be workers, dissolution by acceptance of repudiatory breach, abandonment and mutuality, liability for equitable wrongs, the authority of a partner winding up a partnership, and the availability of equitable or common law remedies for breaches of the partnership agreement. The new edition has been updated to include specific material on LLP law. following the appearance of a distinct law in this area. LLP law is evolving, given that it has both corporate and partnership elements which must fuse into a discrete LLP law but which may lie uneasily together during that process. Many LLPs, although corporate in form, are regarded as partnerships internally by the members. In particular, the current major problem of whether a person can be both a member and an employee of the LLP is considered, following the intervention of the Supreme Court. Limited partnerships, which have experienced a revival as investment vehicles, are also considered separately in the light of the failure to implement many of the suggested reforms to modernise this form of partnership, and recent developments on access to information and derivative actions by limited partners. This book is essential reading for legal practitioners dealing with partnership, and LLP law. and students studying in this area. Contents include: Partnerships and Partnership Law Establishing a Partnership Legal Controls on Partnerships Partners and Outsiders Partners and Each Other Partnership Property Dissolution and Winding Up Partnerships and Insolvency Limited Partnerships Limited Liability Partnerships CONTENTS—SUMMARY Table of Cases xxiii Table of Primary Legislation xxxvii Table of Secondary Legislation xli Table of European Legislation xlv List of Abbreviations xlvii 1. Partnerships and Partnership Law 1 2. Establishing a Partnership 45 3. Legal Controls on Partnerships 87 4. Partners and Outsiders 109 5. Partners and Each Other 159 6. Partnership Property 207 7. Dissolution and Winding Up 229 8. Partnerships and Insolvency 281 9. Limited Partnerships 299 10. Limited Liability Partnerships—The Corporate Structure 315 11. Limited Liability Partnerships—Membership 341 12. Limited Liability Partnerships— Liability to Third Parties 359 Index 357 xi CONTENTS Table of Cases xxiii Table of Primary Legislation xxxvii Table of Secondary Legislation xli Table of European Legislation xlv List of Abbreviations xlvii 1. Partnerships and Partnership Law What is a Partnership? 1.01 Limited liability partnerships 1.02 Law Commissions’ review of partnership law 1.03 Legal Personality and Continuity 1.04 Continuity 1.05 Contractual and statutory problems L06 Legal personality in Scotland 1.07 Partnership Law 1.08 Partnership Act 1890 1,08 Common law and equity 1.09 Other relevant statutes 1.10 Essentials of a Partnership 1.11 Business 1.13 Carried on in common 1.19 With a view of profit 1.23 Partnerships Then and Now 1.26 Partnerships up to 1890 1.27 The growth and development of private companies 1.28 Partnerships today—impact of the LLP 1.29 The European dimension 1.30 Partnerships: Variations on a Theme 1.31 Group partnerships 1.31 Subpartnerships 1.34 Corporate Partners 1.35 Capacity issues 1.36 Other issues 1.37 xiii Contents The International Dimension—Jurisdiction 1.38 Cases where the Judgments Regulation applies 1.39 Cases where the Judgments Regulation does not apply 1.40 2. Establishing a Partnership Questions and Answers 2.01 Importance of establishing a partnership 2.02 Refining the question 2.03 No requirement for written agreement 2.04 Intentional Partnerships 2.05 The partnership agreement or deed 2.05 Commencement 2.06 Duration—partnerships at will 2.07 Partnerships by Association 2.13 Association by Financial Involvement 2.14 Profit-sharing as evidence of partnership 2.15 Establishing community of benefit or opposition of interest 2.16 Specific cases 2.19 Effectiveness of s 2(3) 2.26 Partnership Liability by Representation 2.28 Need for representation 2.29 Need for reliance 2.31 True nature of liability 2.33 Partners, Employees and Workers 2.34 Can a partner also be an employee? 2.34 Can a partner also be a worker? 2.35 Importance of the distinction 2.36 Salaried and Fixed Share Partners 2.37 Growth of salaried and fixed share partners 2.37 Early cases—semi-retirement issues 2.38 Decision in Stekelv Ellice—the modern approach to salaried partners 2.39 Subsequent cases on salaried partners 2.41 Fixed share partners 2.42 Persons Having Status as a Partner 2.43 3. Legal Controls on Partnerships Public and Private Controls 3.01 Areas of public interest 3-02 Restrictions on the Freedom to Contract 3.04 Capacity and discrimination 3.04 Illegality 3.05 xiv Contents Restraint-of-trade Clauses 3.06 Assessing the validity 3.06 Medical partnerships 3.07 Solicitors’ partnerships 3.08 Enforcement 3.11 Restrictions on Freedom of Association 3.12 Restrictions on Choice of Business Name 3.13 Application of Part 41 of the Companies Act 2006 3.14 Passing-off actions 3.17 Partnerships and the Public Domain 3.18 Partnership litigation 3.19 4. Partners and Outsiders Potential Problem Areas 4.01 Liability of Partners for Contracts 4.02 Agency concepts 4.02 The implied or usual authority of a partner—s 5 4.06 Exclusion of implied authority 4Л7 Liability for Other Wrongs 4.23 Vicarious Liability for Torts and Crimes 4.24 Ordinary course of business 4.25 Wrongs within partners authority 4.28 Limitations on the liability 4.29 Primary liability of wrongdoer 4.30 Wrongs between partners 4.31 Crimes 4.32 Liability for Misapplication of Property 4.36 Relationship between sections 10 and 11 4.37 Receipt within apparent authority of partner 4.38 Receipt in course of ordinary business 4.39 Improper employment of trust property in the partnership 4.40 Vicarious liability for dishonest assistance and knowing receipt 4.41 Vicarious liability for breaches of express trusts 4.43 Scope of s 13 4.44 Nature of the Liability 4,45 Joint and several liability 4.45 Duration of the Liability 4.48 Effect of a change of partner 4.49 Novation 4.52 Guarantees 4.54 Liability for debts incurred after leaving the firm 4.55 xv Contents 5. Partners and Each Other Contract and Equity 5.01 Fiduciary relationship 5.01 Effect of agreement 5.02 Interaction between contract and equity 5.03 Duty of Care to Each Other 5.04 Assessing the standard of care and skill 5.04 Fiduciary Duties 5.05 Good faith—the fiduciary principle 5.05 Width of the good faith principle 5.06 Limitations on the good faith principle 5.07 Application to prospective partners 5.08 Application to repudiation and dissolution 5.09 Honesty and Full Disclosure 5.10 Conflict of Interest and Duty—Unauthorized Personal Profit 5.11 The ‘nonprofit’ and ‘no-conflict’ rules 5.11 Direct profit from partnership transaction 5.12 Use of partnership asset for personal benefit 5.13 Misuse of partnership opportunity 5.15 Duration of liability 5.17 Errant partner s share of the benefit 5.18 Duty Not to Compete 5.19 Contract: Implied Terms 5.20 Management and Control 5.21 Management rights 5.21 Remuneration 5.22 Majority voting 5.23 Access to partnership books 5.25 Financial Affairs 5.26 Principle of equality 5.26 Rebutting the presumption of equality 5.27 Losses 5.29 Interest on capital contributions 5.30 Advances 5-31 Indemnities 5.32 Change of Partners 5.33 Implied requirement for unanimous consent 5.33 Contrary intention 5.34 Conditional clauses 5.36 XVI Contents Expulsion Clauses 5-3/ Need for express clause $.37 Complying with the terms of the clause 5.38 Application of natural justice 5.40 Abuse of power 5.41 Assignment of the Partnership Share 5.42 Rights of the assignee whilst the partnership is a going concern 5.43 Rights of the assignee on dissolution 5.44 Losses 5.46 Charging Orders Against Partners 5.47 Strict interpretation 5.48 6. Partnership Property Problems and Possibilities 6.01 Need to identify partnership property 6.01 Link with insolvency 6.02 Beneficial ownership 6.03 Application of fiduciary duties 6.04 Co-ownership issues 6.05 Doctrine of conversion 6.06 What is Partnership Property? 6.07 Nature and Consequences of a Partner’s Interest 6.08 Enforceable only on partial or total dissolution 6.08 Beneficial interest 6.09 Limits on assets capable of being partnership property 6.10 Land held under a trust 6.11 Identifying Partnership Property 6.12 Express or implied agreement—surrounding circumstances 6.12 Use in partnership not always sufficient to create partnership property—business efficacy and necessity 6.13 Strict construction of agreements 6.15 Property bought with partnership profits 6.16 Purchase of land out of profits made by use of non-partnership land 6.17 Resulting trusts 6.20 Business Premises: Leases and Licences 6.21 Problemsofassign men t 6.21 Business tenancies 6.22 Ownership by all partners outside the partnership 6.23 Ownership by one or some partners outside the partnership 6.24 xvii Contents Goodwill: A Note 6.25 Identifying goodwill 6.26 Consequences of a sale of goodwill 6.28 Goodwill as a partnership asset 6.29 7. Dissolution and Winding Up Dissolution 7.01 General and technical dissolutions 7.01 Contractual Grounds for Dissolution 7.02 Implied terms 7.02 Death, bankruptcy, and charging orders 7.03 Express clauses 7.05 Mutual agreement 7.06 Illegality 7.07 Dissolution by the Court 7.08 Grounds for court order 7.08 O us ter clauses 7.17 Frustration of the Partnership Agreement 7.18 Rescission of the Partnership Agreement 7.19 Repudiation of the Partnership Agreement 7.20 Contractual effect of repudiation 7.21 Effect of repudiation on partnership relationship— abandon ment/mutuality 7.22 General Dissolutions—-Winding Up 7.23 Winding Up by the Existing Partners 7.24 Extent of implied authority 7.23 Duty to wind up 7.27 Partnership Receivers 7.28 Appointing a receiver 7.28 Remuneration of a receiver 7.32 Liability of a receiver 7.33 Return of Premiums 7.34 Application of Assets on a Winding Up 7.35 Partners’ rights in the assets of the firm 7.35 Realization by sale 7.36 Buy out or Syers V Syers orders 7.37 Technical Dissolutions 7.38 Problem areas 7.39 xviii Contents Liability of Former Partner 7.40 Valuation of a Partner s Share in the Assets 7.41 Capital assets, and profits 7.4l Valuation method 7.42 Ï ncome profits 7.45 i aw Commissions’ proposals 7.47 Partner’s Share in Profits etc after Dissolution 7.48 Choice of profits or interest 7.48 No application to capital profits 7.50 Post-disso lut ion income profits 7.51 Deductions for management by remaining partners) 7.53 I n terest option in lieu of share of income profits 7.55 Contracting out 7.5B Transfer of Outgoing Partner’s Share 7.59 Distribution of Assets—Solvent Partnerships 7.60 Need for final accounts 7.60 Surplus assets and capital losses 7.61 8. Partnerships and Insolvency Possibilities and Problems 8.01 Applicable insolvency law 8.02 Partnership and partner insolvencies 8.03 Winding Up of an Insolvent Partnership Only 8.05 Winding Up of an Insolvent Partnership and Concurrent Bankruptcy of the Partners 8.06 Priority of creditors 8.07 Disqualification from management of a company or LLP 8.08 Joint Bankruptcy Petitions 8.09 Winding Up a Partnership after Separate Bankruptcy Petitions 8.10 Partnership Voluntary Arrangements 8.11 Lftect of a partnership voluntary arrangement 8.12 Obtaining a temporary moratorium for smaller* partnerships 8.13 Partnership Administration Orders 8.14 Purpose of the administration 8.15 Appointment by application to the court 8.16 Appointment by the partners 8.18 Consequences of an order 8.19 Flexibility of administration 8.20 xix Contents 9. Limited Partnerships Origins and Development of the Limited Partnership 9.01 The 1907 Act 9.02 The reform process 9.03 Formation 9.04 Registration—reform proposals adopted 9.04 Effectiveness of the certificate of registration—fraudulent applications 9.05 Other requirements 9.06 Other reform proposals on registration not yet adopted 9.07 Limited Partners Liability 9.08 Possible reforms on capital 9.09 Trading losses 9.10 Failure to contribute agreed sum 9.11 Interference in management 9.12 Reform proposals on management 9.13 Other Modifications of Partnership Law 9.14 Derivative actions 9.15 Dissolution 9.16 2009 reform proposals on dissolution 9.17 Proposed Regime for Private Fund Limited Partnerships 9.18 Definition, registration and de-registration of a private fund limited partnership 9.19 Interfering in management—permitted activities 9.20 Capital contributions 9.21 Winding up 9.22 Registered particulars, changes, and Gazette notices 9.23 Exemption from statutory duties 9.24 10. Limited Liability Partnerships—Tire Corporate Structure Development and Nature of the Limited Liability Partnership 10.01 LLP Law 10.02 The 2001 legislation 10.02 Impact of the Companies Act 2006 10.03 Changes to company law after the 2006 Act 10.04 The current position 10.05 The corporate model 10.06 The corporate/partnership interface 10.07 A Body Corporate with Limited Liability 10.08 Legal personality—piercing the veil 10.09 Primary liability of the LLP—attribution 10.10 xx Contents LLPs as Members of a Group 10.11 LLPs and the Wider Law IQ.12 Oversea LLPs 10.13 Formation of an LLP 10.14 I he incorporation document 10.1$ I he LLP agreement 10.17 Registration 10.18 Members and Designated Members of an LLP 10.19 Designated members 10.20 Communications by and to members 10.21 Financial and Other Controls 10.22 Accounts and auditors 10.22 Trading disclosures 10.24 DBIS investigations 10.25 Loan Capital 10.26 Winding Up and Insolvency 10.27 Arrangements and Reconstructions 10.28 Voluntary reconstructions 10.29 Disqualification of LLP Members as Company Directors 10.30 Dissolution and Restoration to the Register 10.31 Voluntary and compulsory striking off 10.31 Property of a dissolved LLP 10.32 Restoration to the register 10.33 11. Limited Liability Partnerships—Membership Members 11.01 Being a member 11.01 Duties of Members to the LLP and to Each Other 11.05 Fiduciary relationships 11.06 Default provisions 11.08 Pre-incorporation LLP agreements 11.09 Cessation of Membership; Minority Protection 11.10 Cessation of membership by agreement or by notice 11.11 Other statutory forms of cessation 11.12 Consequences of cessation 11.13 Minority Protection 11.15 Exit disputes 11.15 Available remedies 11.16 xxi Contents 12. Limited Liability Partnerships—Liability to Third Parties Limited Liability 12.01 Agreed contributions by members 12.02 Contributions by court order 12.03 Shadow members 12.05 Liability for Contracts, Torts, and Other Wrongs 12.06 Liability for contracts 12.06 Liability for torts and other wrongs 12.11 Index 367 xxii
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title	Partnership and LLP law
title_auth	Partnership and LLP law
title_exact_search	Partnership and LLP law
title_full	Partnership and LLP law Geoffrey Morse
title_fullStr	Partnership and LLP law Geoffrey Morse
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