With reference to both Statute and the common law, describe the nature of a limited liability partnership, (“LLP”). Critically assess the advantages and disadvantages of an LLP compared with those of a partnership under the Partnership Act 1890 and a private limited company.
The objective of this written assignment is for you to provide a comprehensive description of a limited liability partnership. You will then need to go onto critically assess the advantages and disadvantages of an LLP and compare these advantages and disadvantages with both a traditional unincorporated partnership and a private limited company. It would be helpful for you to provide an appropriate legal description of both an unincorporated partnership and a private limited company, when making the comparison with an LLP. You should support your answer by reference to the relevant statutory provisions coupled with any applicable case law.
INSTRUCTIONS FOR COMPLETION OF THE ASSIGNMENT:
You should present the assignment in the form of an essay of not more than 2500-2750 words. You will be expected to refer to at least one of the recommended textbooks for the Module. Credit will be given where you have clearly shown independent research by reference to other relevant textbooks, internet resources and legal journals/articles – In such event you should provide a detailed bibliography identifying your sources. The bibliography does not form part of the overall word count.
Your assignment must be electronically submitted to Blackboard by 11.59pm on Thursday 15th July 2021. No other method of submission will be accepted. It should be submitted to Blackboard in the Assessment area marked “Resit Assessment 1 – Written Assignment Submission (Due Date: 15th July 2021)”. It must be in a format recognised by Turnitin. You are strongly recommended to complete your assignment in good time for the specified deadline.
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