Formation of Partnership in UK Law

In this Topic
Leading Cases
  • MacKinlay v Arthur Young McClelland Moores & Company
    • House of Lords
    • 23 Nov 1989

    What he receives out of the partnership funds falls to be brought into account in ascertaining his share of the profits of the firm except in so far he can demonstrate that it represents a payment to him in reimbursement of sums expended by him on partnership purposes in the carrying on of the partnership business or practice — the example was given in the course of argument of the partner travelling to and staying in Edinburgh on the business of the firm — or a payment entirely collateral made to him otherwise than in his capacity as a partner (as in Heastie v. Veitch & Co.

  • Tiffin v Lester Aldridge LLP
    • Court of Appeal
    • 11 Jul 2012

    That is because in law an individual cannot be an employee of himself. Nor can a partner in a partnership be an employee of the partnership, because it is equally not possible for an individual to be an employee of himself and his co-partners (see Cowell v. Quilter Goodison Co Ltd and Q.G. Management Services Ltd [1989] IRLR 392). The statutory hypothesis which the subsection requires in order to answer that question is that A and the other members of the LLP 'were partners in a partnership'.

  • Raymond Bieber and Others v Teathers Ltd ((in Liquidation))
    • Chancery Division
    • 09 Feb 2012

    Fifth, such a trust is akin to a "retention of title" clause, enabling the recipient to have recourse to the payer's money for the particular purpose specified but without entrenching on the payer's property rights more than necessary to enable the purpose to be achieved. It is not as such a "purpose" trust of which the recipient is a trustee, the beneficial interest in the money reverting to the payer if the purpose is incapable of achievement.

  • Criterion Properties Plc v Stratford UK Properties LLC and Others
    • Chancery Division
    • 27 Mar 2002

    In my judgment, therefore, what Belmont and Akindele decide for present purposes is that actual knowledge of circumstances which make the payment a misapplication is sufficient to bind the conscience of the recipient. On my analysis of the essential nature of the second supplementary agreement that, however, is not this case.

  • Austin Rover Group Ltd v Crouch Butler Savage Associates
    • Court of Appeal
    • 25 Mar 1986

    It is in the interests of both plaintiffs and the public that litigation should proceed with all diligence. It is in the interest of defendants that they should be able to know when claims against them are statute barred. This type of case, where writs are held for too long and service is attempted in haste within the last week of its validity, continues to arise far too frequently.

  • R (Huitson) v HM Revenue and Customs
    • Queen's Bench Division (Administrative Court)
    • 28 Ene 2010

    It is also immediately plain that the tax avoidance scheme, if it worked, would be singularly attractive to any person in the position of the Claimant, that is, any resident of the UK who, as a self-employed person, carried on a trade or profession here.

  • M Young Legal Associates Ltd v Zahid (A Firm) and Others
    • Court of Appeal
    • 16 May 2006

    There was one feature of the context to the agreement between the two men which was determinative, namely the need for a solicitor's practice to comply with rule 13 of the Rules of 1990. Its effect was that the firm could lawfully practise between March 2002 and November 2002 only if Mr Lees was a partner in it. The evidence of both men was that it was in order to comply with rule 13 that they entered into the agreement and indeed that Mr Lees became associated with the firm at all.

See all results
Books & Journal Articles
See all results
Law Firm Commentaries
  • ILPA model limited partnership agreement: attention turns to LP-favourable terms
    • JD Supra United Kingdom
    • Bryan Cave Leighton Paisner
    • 19 de Noviembre de 2019
    ILPA has recently published a model limited partnership agreement (LPA) that reflects preferred terms and practices for the LP community investing in private equity funds. The Model LPA conforms to...
    ...... earlier this year), and is part of ILPA’s Simplification Initiative, designed to streamline the negotiation process and reduce fund formation costs. Time will tell as to whether or not the Model LPA is likely to emerge as the manager roadmap to attract LP capital and establish best ......
  • UK Limited Partnership Law Reform – Two Developments
    • Mondaq UK
    • 21 de Marzo de 2017
    ...... law, such as transparency requirements, principal place of business, arrangements for ending a limited partnership, and the role of formation agents. The call for evidence closes on 17 March 2017. The content of this article is intended to provide a general guide to the subject matter. ......
  • Registration Of A Company Or A Partnership In Scotland
    • Mondaq UK
    • 22 de Octubre de 2016
    ...... UK Company fact sheet. UK Company formation article (Frequently Asked Questions). UK Company in a nutshell. SCOTTISH LIMITED PARTNERSHIP. In Scotland the partnership (legally known as a ......
  • Partnership Vehicles Come Under Scrutiny
    • Mondaq UK
    • 25 de Julio de 2018
    ...... usefully used in layered structures to ensure that a proper separation is achieved between the separate layers and a number of classic fund formation jurisdictions have recognised the utility of these features and have introduced a similar range of partnership vehicles, with and without entity ......
See all results