The referencing must be OSCOLA with footnotes and bibliography at the end.
some books to read from:
– ELSPETH BERRY, Partnership law and LLP law (2nd edition, wildly, Simmonds & hill 2018)
– ELSPETH BERRY ‘partnership options in theUK
– MARK BLACKETT-ORD and Sarah Haren, Partnership Law (5th edn, Bloomsbury Professional,2015)
-Roderick I’Anson Banks, Lindley & Banks on Partnership (20th edn, Sweet &Maxwell 2017)
Q: Answer ALL parts of the question.
a) Dalitso, Ed and Fran are architects. They want to set up in business together but are not sure what type of business vehicle is best for them. Dalitso and Ed will contribute some cash, but all three intend to approach a bank for a business loan. Fran’s house has outbuildings which, when suitably converted, will provide premises for the new business and space for a receptionist. Once the new business is up and running, the parties hope to appoint a further architect, their friend Giorgio.
Advise the parties jointly on
i. Whether a general partnership, limited partnership, LLP, or private company limited by shares, would be best for them, and the reasons why; and
ii. The key clauses which their partnership agreement OR LLP agreement OR company constitution (depending on your answer to i)) will need to include given the facts outlined above and the relevant law.
b)
i. Critically analyse the key provisions of the Limited Liability Partnerships Act
2000 and Regs 7 and 8 of the Limited Liability Partnership Regulations 2001, taking account of any relevant court judgments on these provisions and the supplementing of these provisions by the Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009; and
ii. Suggest reforms to solve any deficiencies which you have highlighted.