untitled

Essential points 325 off creditors. He can sell off property which is subject to a floating charge but the charge holder gets th ...

326 Chapter 11Companies (2): Management, control and winding up n A public company must hold an Annual General Meeting (AGM) of ...

Practice questions 327 If the case were to come to court today, which of the statutory duties in ss. 171–177 might the directors ...

discovered that the company had sold building materials to another company in which George and Tony are the only shareholders. F ...

Chapter 12 Partnership, limited liability partnership and choice of legal status In this chapter trading as a partnership and tr ...

330 Chapter 12Partnership, limited liability partnership and choice of legal status ‘In common’ ‘In common’ means not only that ...

Partnership 331 It is possible for one or more partners to limit their liability under the Limited Partnerships Act 1907. This a ...

332 Chapter 12Partnership, limited liability partnership and choice of legal status For example, if a partner in a firm of accou ...

Partnership 333 The firm’s liability for a partner’s torts Here we consider whether the partnership as a whole is liable if one ...

334 Chapter 12Partnership, limited liability partnership and choice of legal status firm would not be liable for a partner who l ...

Partnership 335 To avoid any possibility of continuing liability, it is prudent for partners who leave a firm to inform existing ...

336 Chapter 12Partnership, limited liability partnership and choice of legal status The partnership deed A very simple partnersh ...

Partnership 337 Model Partnership Deed This partnership agreement is made on (date) ............................................ ...

338 Chapter 12Partnership, limited liability partnership and choice of legal status Capital and profits Section 24(1) states tha ...

Partnership 339 So a majority of the partners in a firm of car dealers could take the decision to move to new premises. The deci ...

340 Chapter 12Partnership, limited liability partnership and choice of legal status Numbers of partners Until recently, most fir ...

Partnership 341 payment of a debt. However, firms with 20 or more partners do not have to give the names of all the partners on ...

342 Chapter 12Partnership, limited liability partnership and choice of legal status Accounting for profits Section 29 provides: ...

Partnership 343 Business property When a firm is wound up, the partnership property will be used to pay the debts and liabilitie ...

344 Chapter 12Partnership, limited liability partnership and choice of legal status example, the deed might state that the firm ...