Partnership and LLP Law

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 modernize 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 Geoffrey Morse is Professor of Corporate and Tax Law at the University of Birmingham, and has taught and written on company law, tax law, and partnership law for over forty years.