Law > Class Notes > Business Law and Practice - Consolidation notes-2022 (All)
Business Law and Practice - Consolidation notes-2022
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SGS 1 - Introduction to Client 1 • Learning outcomes: • 1) Identify key constitutional differences between public and private companies through analysis and interpretation of statutory provi ... sions • 2) Apply knowledge of main advantages and disadvantages of the following types of business media: Partnerships, LLPs and Limited Companies Comparison of different business media: Key Feature Partnership Limited Liability Partnership Company Limited by Shares Primary governing statute • Partnership Act 1890 • Limited Liability Partnerships Act 2000 (‘LLPA’) • Limited Liability Partnership Regulations 2001 (‘the Regs’) • Companies Act 2006 • Companies Act 2006 (‘CA’) • Insolvency Act 1986 • Company Directors Disqualification Act 1986 Liability of investors • Partners have joint and several liability • Liability limited: individual members not personally liable over and above anything agreed in their LLP agreement • Liability limited: members only liable to pay any amount unpaid on their shares - s3(2) CA 2006 CONTINUED....... [Show More]
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