What to expect
- What is a Partnership (as a legal entity)?
- Why having a Partnership Agreement (PA) in place is important and the consequences and dangers of not having one (Partnership Act 1890).
- The important areas/matters/clauses that a PA must/should address (i.e. continuance, retirement, etc)
- How a PA (and properly signing one) is paramount in preventing (and/or resolving) Partnership dispute.
- Why keeping a Partnership up to date is vital for all of the above.
What you will learn
- A clear description of the value in having a PA in place.
- An explanation of the risks of not having an agreement in place (i.e. the risks and criticisms of the PA 1890) and not having it signed if put in place.
- A highlight of key areas that all PAs should address and the importance of their inclusion and some examples.
- Drafting tips and not commonly known legal implications of PA (i.e. restrictive covenants, statutory maternity leave, etc).
Daniel Jones is a paralegal on the BMA Law team. He attended the University of Manchester where he completed a PPE degree and attended BPP University for his GDL. He recently achieved a distinction grade in his Legal Practice Course from the University of Law and he is now pursuing his legal career.