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Journal articles on the topic 'Limited liability partnership'
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1
Zrałek, Jacek. "PARTNER’S CONTRIBUTION TO LIMITED PARTNERSHIP AND IN THE CONTEXT OF PARTNER’S LIABILITY." Roczniki Administracji i Prawa 2, no. XX (June 30, 2020): 277–92. http://dx.doi.org/10.5604/01.3001.0014.1793.
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Limited partnership is a type of partnerships recognized by Polish Commercial Code. There are two types of partners in this type of partnership: first group enjoys limited liability, while the liability of the second group is unlimited. Still partners in first group are personally liable, but their responsibility is limited by the amount indicated in partnership agreement and by the contribution provided to the partnership. The regulation creates a lot of controversies and it remains unclear how precisely such limitation of responsibility should be calculated.
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Grzebiela, Klaudia. "PARTNERS’ OF A LIMITED PARTNERSHIP LEGAL POSITION." Kultura Bezpieczeństwa. Nauka – Praktyka - Refleksje 31, no. 31 (September 28, 2018): 63–80. http://dx.doi.org/10.5604/01.3001.0012.8594.
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The main purpose of this article is to present the role and position of partners in a limited partnership. The growing interest in choosing this organizational and legal form is due to its specificity. A limited partnership allows shaping the rights and obligations of the company’s partners, who are divided into two groups: general partners and limited partners. The reason for different legal nature of these entities who are relative to each other should be noticed. Furthermore their liability for the company’s liabilities is shaped differently, as well as the issue of running company’s affairs and its representation. Currently a common type of limited partnership called Limited Liability Limited Partnerships (LLLP), wherein Limited Liability Company as a legal person becomes the general partner. This legal solution is beneficial for its partners. In doctrine is considered as an atypical legal company.
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Orlov, Vladimir. "RUSSIA–U.S.: LIMITED LIABILITY PARTNERSHIP." Security Index: A Russian Journal on International Security 16, no. 3 (July 2010): 1–3. http://dx.doi.org/10.1080/19934270.2010.507070.
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Kovalyshyn, O. R. "LIMITED LIABILITY PARTNERSHIP AS AN ALTERNATIVE FORM OF PARTNERSHIPS." Scientific notes of Taurida National V.I. Vernadsky University. Series: Juridical Sciences, no. 1 (2020): 89–94. http://dx.doi.org/10.32838/2707-0581/2020.1/17.
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Subai, P., and Appi K. Stephen. "Between the Private Company and the LLP: Deciphering a Path for Small Businesses in Nigeria." African Journal of International and Comparative Law 31, no. 1 (February 2023): 15–31. http://dx.doi.org/10.3366/ajicl.2023.0432.
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This article questions whether the limited liability partnership form which was introduced in Nigeria in 2020 is set to displace the private company as the legal form of choice for small businesses and owner-managed entities. It compares the legal provisions relating to the private company and the limited liability partnership as provided for under the Companies and Allied Matters Act 2020, and highlights their relative strengths and weaknesses. It notes that while the attractions of the limited liability partnership are significant, recent reforms of the private company may have also positioned that form to be relevant and equally appealing to small businesses. It concludes that while the limited liability partnership will be highly appealing to professional partnerships in Nigeria, the private company would continue to remain relevant for some time to come particularly as it is now possible for sole proprietors to trade under that form as one-man companies.
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Grześków, Mateusz. "Pośrednie umieszczenie nazwiska komandytariusza w fi rmie spółki komandytowej w świetle art. 104 § 4 k.s.h." Studenckie Prace Prawnicze, Administratywistyczne i Ekonomiczne 24 (September 24, 2018): 21–31. http://dx.doi.org/10.19195/1733-5779.24.2.
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The indirect placement of a limited partner’s surname in business name of a limited liability partnershipIn the limited liability partnership, whose general partner is a non-natural person, there is a possibility that in its business name may occur an indirect placement of a limited partner’s surname when general partner’s business name contains surname of a limited partner. Accordance to art. 104 § 3 of Polish Code of Commercial Companies CCC limited liability partnership’s business name shall contain full business name of at least one of its general partners who are non-natural persons. In the result art. 104 § 4 CCC is infringed by the force of the law itself. This conflict of laws can be resolved by application of either lingual or functional interpretations of these contracting to each other provisions. Due to the needs of business practice, more liberal approach to the application of art. 104 § 4 should be adopted. Additionally, it would be wrong to punish entities who are acting in accordance with law for obeying it. Finally, the indirect placement of a limited partner’s surname in the business name of a limited liability partnership shall not result in holding limited partner liable for its debts.
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Moreira da Veiga Pessoa, Bruno. "LIABILITY OF LIMITED LIABILITY COMPANIES ADMINISTRATORS." Revista Gênero e Interdisciplinaridade 4, no. 02 (May 5, 2023): 292–314. http://dx.doi.org/10.51249/gei.v4i02.1329.
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The objective of this work is to analyze the form of due diligence of the responsibility of the administrators of limited liability companies. To exercise the established objective, the method used will be deduction, being of a qualitative nature, as for the method of procedure used, it is the monographic one and the research technique is the bibliographic one. The work brings concepts of business partnership, specifies the limited liability company type and demonstrates how administrators work in limited liability companies. Therefore, it is concluded that compliance is a mechanism used as a safeguard against the responsibility of the administrator in the limited liability company, due to the obligation to comply with rules to standardize the conduct of action and reduce reputational and economic risks.
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Siems, Mathias M. "REGULATORY COMPETITION IN PARTNERSHIP LAW." International and Comparative Law Quarterly 58, no. 4 (October 2009): 767–802. http://dx.doi.org/10.1017/s0020589309001390.
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AbstractRegulatory competition in company law has been extensively debated in the last few decades, but it has rarely been discussed whether there could also be regulatory competition in partnership law. This article fills this gap. It addresses the partnership law of the US, the UK, Germany, and France, and presents empirical data on the different types of partnerships and companies established in these jurisdictions. The main focus is on the use of a limited liability partnership (LLP) outside its country of origin. It is also considered whether some regulatory competition can take place in the law of limited partnerships.
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Moskwa, Leopold. "Commercial law in Poland: Partnerships." Pravovedenie 65, no. 1 (2021): 76–105. http://dx.doi.org/10.21638/spbu25.2021.105.
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Commercial law has lost its status as a branch of law separate from civil law and currently forms only a specialised part of it. The key criterion for distinguishing commercial law is the entrepreneur in the sense that commercial law is “the private law of entrepreneurs”. Due to their key importance on the market, commercial law companies occupy a special place among entrepreneurs and therefore there are attempts to make these forms of business activity as attractive as possible. The same applies to partnerships. Therefore, the following legislative efforts should be noted. Owing to the introduction of the Commercial Companies Code in 2001, partnerships gained legal capacity, but were not equipped with legal personality, and continued to be considered “imperfect” legal persons. Consequently, although they may acquire rights and incur liabilities, unlike legal persons, they are tax “transparent”, which means that they are not subject to income tax. The adoption of the principle of subsidiary liability of partners for the obligations of a partnership has become an important step and it strengthens the position of partners. This means that the creditor of a partnership may only conduct enforcement from the partners’ assets when the enforcement against the partnership’s assets proves ineffective. As a result, as long as the claims of the partnership’s creditors can be satisfied from the partnership’s assets, the partners are not in danger of being held liable for the partnership’s obligations. The introduction of two new types of partnerships into the Polish legal system, namely the professional partnership and a limited joint-stock partnership is of great importance. The former is intended only for professionals and regulates the liability of a partner for the company’s obligations in a very favourable manner. The partner is liable in a limited manner, i. e., solely for malpractice committed by himself or by persons under his supervision. In turn, a limited joint-stock partnership was introduced to protect entrepreneurs (general partners in spe) who intend to recapitalise on the enterprise which usually has an established position on the market, by issuing shares, without exposing themselves to the danger of the so-called hostile takeover.
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곽수현. "A Legal Study on Limited Partnership and Limited Liability Company." kangwon Law Review 35, no. ll (February 2012): 25–63. http://dx.doi.org/10.18215/kwlr.2012.35..25.
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Anatiichuk, V. V. "General And Limited Partnerships: Features Of Legal Regulation In Ukraine And European States." Actual problems of improving of current legislation of Ukraine, no. 55 (January 17, 2021): 130–42. http://dx.doi.org/10.15330/apiclu.55.130-142.
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The article focuses on one of the corporate forms of entrepreneurial activity - general and limited partnerships. Limited liability companies and joint stock companies are among the most popular legal forms of companies. However, the development of Ukrainian legislation moves in the direction of creating a system of different forms of entrepreneurship, which are aimed at different needs and interests of their founders. Such forms of entrepreneurship exist and operate successfully in Europe. Carrying out a comparative analysis in the article allows the author to confirm the existing thesis that there is no single vector in European countries concerning the legal status of these partnerships. Some states define these partnerships as legal entities, others - as a form of joint business activity.
It is emphasized in the article that the European legal space is characterized by the use of the concept of defective legal entity. The author perceives any of these European approaches, but points to the need for its consistent reflection in all legal acts that determine the status of general and limited partnerships. The article supports the assertion formed in the scientific literature about the criticism of domestic legislation on general and limited partnerships. Such criticism concerns to those norms of Ukrainian legislation, which use untypical provisions for legal entities. All existing researches are directed to one aim - to develop a single vector in the regulation of general and limited partnerships. They should be regulated either as legal entities or as forms of joint activity on the basis of an agreement.
The author states that the main attention in granting general and limited partnerships the status of a legal entity should be focused on clear boundaries between the liability of a legal entity and the subsidiary liability of its members.
The article supports leading scholars’ critical assessment of the legislative definition of general partnerships as an association of persons for joint business activities. Based on the analysis of the definitions of a general partnership in EU law (for example, France), it is proposed to define a general partnership as an association of persons engaged in business activities through joint contributions of all participants (full partners) and their subsidiary liability for the company’s obligations. This wording indicates that the partnership itself carries out business activities, and not its members.
The author also does not deny the possibility of introducing general and limited partnerships as associations of persons on the basis of an agreement on joint activities. At the same time, it is noted that all norms of national legislation should consistently adhere to such concept.
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Morris, Philip, and Joanna Stevenson. "Accountancy Firms and the Jersey Limited Liability Partnership." Business Law Review 18, Issue 4 (April 1, 1997): 80–83. http://dx.doi.org/10.54648/bula1997026.
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Wariah, Yayah, and Amin Purnawan. "Improved Mechanisms Commanditaire Vennootschap (CV) Become A Legal Entity Limited Liability Company (PT)." Jurnal Akta 5, no. 4 (December 3, 2018): 837. http://dx.doi.org/10.30659/akta.v5i4.3714.
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Principal difference between a limited partnership or known as CV (Commanditaire Vennootschap) with limited liability company (PT) contained in the legal status, because the CV is a partnership that is not incorporated and responsibilities of the board ally itself to a private property. While the Limited Liability Company (PT) is a legal entity liability company and limited responsibilities.The purpose of this study is to investigate and find out the mechanism of change Guild (CV) Become a Legal Entity Limited Liability Company (PT). To investigate and determine Responsibilities of complementary Allies Against Limited Liability Company (PT) established. The method used is normative, descriptive analysis, data collection is done by using primary data and secondary data in the form of primary legal materials, secondary and tertiary as the main data. After the secondary and primary data collected, then conducted a qualitative analysis. Based on the analysis concluded that the mechanism of the change in form of a CV to PT generally refers to the provisions regulating the CV and the provisions governing PT. Responsibility in complementary ally if the legal actions referred to in Article 12 and Article 13 of the Company Law, then the shift right and duty of the complementary allies into the company and legal actions undertaken by the complementary binding partner company.Keywords: Business Entity; Limited Partnership; Limited Liability Company
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Weng, Tzu-Ching. "Do the organization types of audit firms matter to earnings conservatism? Evidence from China." Investment Management and Financial Innovations 14, no. 2 (June 6, 2017): 116–27. http://dx.doi.org/10.21511/imfi.14(2).2017.11.
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This study explores whether legal liability of audit firms is associated with client’s earnings conservatism. In China, audit firms are allowed to choose between legal forms of general partnership (GP) and limited liability corporation (LLC). Because partner auditor is personally liable for all partners’ service in general partnership form, that will provide an incentive for audit partners to monitor each other’s audit quality. Conversely, personal assets of individual partner, under LLC, are no longer available to pay a partnership’s liability, thus reducing the incentives for intrafirm monitoring by partners within an audit firm. Using several different methods for identifying earnings conservatism, this study finds that LLC audit firms are associated with reduced conservatism.
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Srimala, Sourabh, and Anjali Mittal. "Limited liability partnership: Viable option of business in India." VIDHIGYA: The Journal of Legal Awareness 15, no. 1and2 (2020): 17–24. http://dx.doi.org/10.5958/0974-4533.2020.00003.2.
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Kumar, Shailendra. "Limited Liability Partnership- A New Gateway to Corporate India." Prastuti: Journal of Management & Research 2, no. 2 (2013): 40–47. http://dx.doi.org/10.51976/gla.prastuti.v2i2.221305.
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Makushina, Elena Yu. "Disclosure by Venture Capital Funds Formed Under Investment Partnership Agreement." Financial Journal 14, no. 2 (April 2022): 113–29. http://dx.doi.org/10.31107/2075-1990-2022-2-113-129.
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Russia’s private equity and venture capital industry is in the early stages of development. In 2011 the Federal Law on Investment Partnership (335-FZ) was enacted. It brought the best international practices of collective investments into the Russian legal system by making it possible to create venture capital funds through investment partnership. This particular type of funds is the closest in substance to the most popular legal form of globally known venture capital funds which is a limited liability partnership. Significant progress has been made so far in reforming the Russian system of accounting and financial reporting under the IFRS. However, the existing regulations have not been amended to (capture) incorporate accounting and reporting of financial investments, and proper templates for disclosure and reporting by investment partnership funds have not been worked out. The aim of the article is to develop suggestions and recommendations to enhance domestic model of information disclosure by venture capital funds formed under investment partnership agreements. Researching the international practices of disclosure by venture capital funds created as limited liability partnerships allowed to devise financial reporting templates that can be used by domestic venture capital funds formed under investment partnership agreements. These templates proposed in this piece of research can serve as the basis for future industry standards of financial accounting in Russia.
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Nguluwe, Chaponga Z., Mildred Muhyila, Douglas W. Rolls, and Nyawa M. Nyirongo. "The Efficacy of the Introduction of LLPs in Zambia: Lessons from Kenya and the United Kingdom." International Journal of Research and Innovation in Social Science VIII, no. IV (2024): 887–97. http://dx.doi.org/10.47772/ijriss.2024.804065.
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Design/methodology/approach –The study is a culmination of desk research in inter alia, statutes, case law, textbooks, journal articles, etc. Purpose-There are different forms of business associations that can be formed for the purpose of conducting business activities in Zambia and among them are partnerships which are regulated by the British Partnerships Act of 1890, an archaic and outdated law. The Partnerships Act of 1890 has several shortcomings which render it insufficient and ineffective in today’s business environment. The study discusses the current legal framework and shortcomings of partnerships in Zambia. Findings-For instance, individuals who would like to form a business association in which they can enjoy limitation of liability cannot establish a Limited Liability Partnership (LLP) in Zambia, instead, they would have to incorporate a company because Zambia lacks legislation for LLPs. Originality/value-This research paper highlights the benefits of LLPs, by drawing lessons from Kenya and the United Kingdom. In addition, the study recommends the creation of legislation and a regulatory framework to guide Limited Liability Partnerships in Zambia because none exists.
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Szczurowski, Tomasz. "OSOBOWE SPÓŁKI JEDNOOSOBOWE." Zeszyty Prawnicze 11, no. 2 (December 21, 2016): 381. http://dx.doi.org/10.21697/zp.2011.11.2.20.
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Single – Partner PartnershipSummary The Commercial Companies Code contains regulating of a single – member private limited-liability company and a single – member public company, but partnership can also have single partner. It can not be incorporate as a single – partner partnership, but it is possible that one partner remains in the partnership. First of all, a professional partnership can be single – partner partnerships (art. 98 § 2). However it is the most typical situation, I think that all kind of partnerships may have just one partner. That can happen when the partnership includes two partners and one of them terminates the articles of association or when one of them dies. In this case the partnership would have one partner during liquidation. Although the term of liquidation is unspecified, The Commercial Companies Code does not contains regulating the issue of single – partner partnership. This problem should be solved by applying general norms connecting with liquidation.
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Ahn Kyeong-Bong. "Tax Treatment of Limited Partnership and Limited Liability Corporation in Commercial Law Draft." Journal of IFA, Korea 26, no. 1 (February 2010): 445–83. http://dx.doi.org/10.17324/ifakjl.26.1.201002.010.
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Putri, Rizha Claudilla. "BENTUK HUKUM PERUSAHAAN PERSEKUTUAN DI INDONESIA DAN PERBANDINGANNYA DI MALAYSIA." Cepalo 4, no. 1 (June 5, 2020): 28. http://dx.doi.org/10.25041/cepalo.v4no1.1913.
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Perusahaan dapat dibedakan atas perusahaan badan hukum dan perusahaan bukan badan hukum. Di Indonesia, Perusahaan badan hukum dapat berbentuk Perseroan Terbatas (PT), Yayasan dan Koperasi. Sedangkan perusahaan bukan badan hukum dapat berupa Firma (Fa) dan Persekutuan Komanditer atau Comanditaire Vennootschap (CV). Peraturan mengenai bentuk perusahaan persekutuan, firma dan CV terdapat di dalam KUHPer dan KUHD. Sama halnya seperti di Indonesia, bentuk hukum suatu perusahaan Malaysia dapat dikenal dengan beberapa bentuk business entitiy, seperti Sole Proprietorship, Partnership, Limited Liability Partnership (LLP), Private Limited Company/SendirianBerhad (Sdn Bhd), dan Public Limited Company/Berhad (Bhd). Beberapa Business Entity yang ada di Malaysia memiliki kemiripan dengan jenis badan usaha yang ada di Indonesia, seperti Partnership atau Perusahaan Persekutuan. Terdapat pula perbedaan antara bentuk dan peraturan yang mengatur perusahaan persekutuan Indonesia dengan perusahaan persekutuan Malaysia. Undang-Undang yang digunakan pun berbeda bagi kedua negara, Partnership diatur dalam Partnership Act 1961 sedangkan untuk Limited Liability Partnership diatur dalam Limited Liability Act 2012. Penelitian hukum ini menggunakan metode penelitian normatif dengan pendekatan komparatif. Data yang digunakan adalah data sekunder yang didapat dari bahan hukum primer, sekunder dan tersier. Pengumpulan data dilakukan melalui studi kepustakaan dan dokumen serta diolah dengan melakukan seleksi data secara sistematis untuk mendapatkan gambaran umum dari hasil penelitian. Hasil penelitian menunjukkan bahwa dalam Partnership mengatur mengenai perusahaan secara tradisional dengan ingin mendapatkan laba atau keuntungan. Sedangkan di dalam LLP menggabungkan antara partnership dan company. Perbedaan bentuk hukum perusahaan persekutuan antara Indonesia dan Malaysia ini juga jelas terlihat jika dilihat dari aturan pada masing-masing negara dimana Indonesia tidak mempunyai undang-undang khusus mengenai bentuk hukum persekutuan ini. Dengan demikian, pemerintah hendaknya membuat sebuah undang-undang yang mengatur mengenai bentuk usaha persekutuan lebih khusus dalam peraturan yang berbeda agar dapat mudah dipahami oleh pelaku usaha seperti peraturan yang berlaku di negara Malaysia.
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Kusumatrinanda, Veldi. "PERBANDINGAN HUKUM PERSEROAN DI INDONESIA DAN DI MALAYSIA." UNES Journal of Swara Justisia 7, no. 2 (July 7, 2023): 625. http://dx.doi.org/10.31933/ujsj.v7i2.376.
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Perusahaan dapat dibedakan atas perusahaan badan hukum dan perusahaan bukan badan hukum. di Indonesia, Perusahaan badan hukum dapat berbentuk Perseroan Terbatas (PT) Yayasan dan Koperasi. Sedangkan perusahaan bukan badan hukum dapat berupa Firma (Fa) dan Persekutuan Komanditer atau Comanditaire Vennootschap (CV). Peraturan mengenai bentuk perusahaan persekutuan, firma dan CV terdapat di dalam KUHPer dan KUHD. Sama halnya seperti di Indonesia, bentuk hukum suatu perusahaan Malaysia dapat dikenal dengan beberapa bentuk business entitiy seperti Sole Proprietorship, Partnership, Limited Liability Partnership (LLP), Private Limited Company/SendirianBerhad (Sdn Bhd), dan Public Limited Company/Berhad (Bhd). Beberapa Business Entity yang ada di Malaysia memiliki kemiripan dengan jenis badan usaha yang ada di Indonesia, seperti Partnership atau Perusahaan Persekutuan. Terdapat pula perbedaan antara bentuk dan peraturan yang mengatur perusahaan persekutuan Indonesia dengan perusahaan persekutuan Malaysia. Undang-Undang yang digunakan pun berbeda bagi kedua negara, Partnership diatur dalam Partnership Act 1961 sedangkan untuk Limited Liability Partnership diatur dalam Limited Liability Act 2012. Penelitian hukum ini menggunakan metode penelitian normatif dengan pendekatan komparatif. Data yang digunakan adalah data sekunder yang didapat dari bahan hukum primer, sekunder dan tersier. Pengumpulan data dilakukan melalui studi kepustakaan dan dokumen serta diolah dengan melakukan seleksi data secara sistematis untuk mendapatkan gambaran umum dari hasil penelitian. Hasil penelitian menunjukkan bahwa dalam Partnership mengatur mengenai perusahaan secara tradisional dengan ingin mendapatkan laba atau keuntungan. Sedangkan di dalam LLP menggabungkan antara partnership dan company. Perbedaan bentuk hukum perusahaan persekutuan antara Indonesia dan Malaysia ini juga jelas terlihat jika dilihat dari aturan pada masing-masing negara dimana Indonesia tidak mempunyai undang-undang khusus mengenai bentuk hukum persekutuan ini. Dengan demikian, pemerintah hendaknya membuat sebuah undang-undang yang mengatur mengenai bentuk usaha persekutuan lebih khusus dalam peraturan yang berbeda agar dapat mudah dipahami oleh pelaku usaha seperti peraturan yang berlaku di negara Malaysia.
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Nugroho, Muhammad Hildan Yudanto. "Bentuk Hukum Perusahaan Persekutuan Yang Diterapkan di Indonesia Maupun Malaysia Menurut Peraturan yang Berlaku di Masing-Masing Negara." Jurnal Sains Sosio Humaniora 6, no. 2 (December 24, 2022): 170–81. http://dx.doi.org/10.22437/jssh.v6i2.22905.
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Penelitian hukum ini bertujuan untuk mengetahui bagaimana bentuk hukum persekutuan perdata yang diterapkan di Indonesia mauapun Malaysia menurut peraturan yang berlaku di negara tersebut. Berdasarkan hasil penelitian ini, bahwa terdapat 2 perusahaan persekutuan yang digunakan yaitu Persekutuan yang diatur dalam ketentuan Partnership Act 1961 dan Limited Liability Partnership yang diatur dalam ketentuan Partnership 2012 dan terdapat perbedaan diantara keduanya yaitu di LLP seluruh anggota ataupun sekutu tidak secara individu bisa bertanggung jawab terhadap seluruh hutang Maupin kewajiban yang terdapat di perusahaannya, sementara Partnership seluruh anggotanya diwajibkan membayar seluruh hutang perusahaan yang dibayarkan oleh aset pribadi yang dimilikinya. Selain itu dalam pengaturan persekutuan yang diterapkan Indonesia dengan Malaysia berbeda hal ini disebabkan di Indonesia bekas jajahan Belanda sehingga menerapkan peraturan perusahaan persekutuan yaitu KUHD dan KUHPer sedangkan Malaysia merupakan negara bekas jajahan Inggris dan menjadi salah satu negara persemakmurannya sehingga peraturan perusahaan persekutuan yang diterapkan adalah Partnership Act 1961 dan Limited Liability Partnership Act 2012
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Kessler, Amalia D. "Limited Liability in Context: Lessons from the French Origins of the American Limited Partnership." Journal of Legal Studies 32, no. 2 (June 2003): 511–48. http://dx.doi.org/10.1086/374709.
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AYDIN, Sema. "Yargıtay Kararları Işığında Limited Şirketlerde Ortaklıktan Çıkarılma." İnsan ve Sosyal Bilimler Dergisi 5, no. 1 (May 29, 2022): 56–73. http://dx.doi.org/10.53048/johass.1064503.
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There is a need for a strong cooperation and trust relationship between the partners in limited companies which is one of the most established company types in practice. In cases where any of the partners damage this cooperation and trust, it is important to recognize the right of the company to expulse a partner. Forcing the company and other partners to endure this situation may disrupt the harmony of the partnership. A limited liability company partner can be expulsed from the company by the decision of the general assembly based on the reason stipulated in the articles of association or by a court decision for justified reasons. Expulsion is the termination of the partner's relationship with the partnership against the will of the partner, and the termination of the partnership title with a general assembly or court order. In this article, grounds for expulsion, applying to court for expulsion, and its consequences will be examined theoretically in accordance with the doctrine and supreme court decisions.
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Abdul Rahman, Hamizah, Nurul Syahira Othman, Tengku Adida Tengku Zainal Mulok, Liziana Kamarul Zaman, and Wan Murshida Wan Hashim. "The Changing Aspect of Partnership Business Structure in Malaysia." Jurnal Intelek 16, no. 1 (January 26, 2021): 215–24. http://dx.doi.org/10.24191/ji.v16i1.383.
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Partnership business structures have been accepted as a major venture capital vehicle, which is generally opted for by small and medium businesses, or by professionals that are prohibited from incorporating under the respective laws. The main objectives of this paper are first to highlight the changes in the legal attributes of general partnership structures, resulting from its evolution to limited liability partnerships (LLP). Secondly, it investigates the suitability of the LLP structure for some business partners, particularly professionals, as businesses grow with rising trade costs and litigation issues that have forced partners to take precautions regarding business liabilities. These situations have led to a tendency for existing partnerships to change from general to a hybrid entity (LLP). Thirdly, it also analyses the benefits and drawbacks of LLPs as an option for general partnerships. This paper adopts doctrinal and statutory analysis as the research methods, whereby secondary analysis of relevant documents and legal acts that govern partnership businesses are referred to. Some interviews were conducted with the LLP partners, registration bodies, and bankers, to review the current implementation issues related to LLPs. This research found that the general partnership business structure has many problems, mainly related to unlimited liability and accounting procedures, which affect the obligations and protections of partners’ benefits. To conclude, the question of whether LLPs is the best alternative for partners to opt for from a general partnership finds that it is the easiest choice, compared with incorporation, but many impediments occur in its implementations that must be considered by partners. although partners can protect themselves in LLPs with the partnership agreement, there are still many loopholes in its business implementation when it comes to integrity, trust, financing, reporting, sharing of profits, and other issues.
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Mikaloniene, Lina. "Small Partnership Company Form as a Vehicle for Small and Medium-sized Businesses in Lithuania: Is the Theoretical Model Effective in Practice?" European Company and Financial Law Review 15, no. 1 (June 13, 2018): 101–22. http://dx.doi.org/10.1515/ecfr-2018-0004.
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At the end of 2012, Lithuania introduced a new type of limited liability company form for small and medium-sized business – the small partnership. Based on a comparative approach, lawmakers modelled the small partnership as a hybrid entity, assimilating both partnership- and corporate-type attributes. This article analyses key features, advantages and disadvantages of the Lithuanian small partnership aiming to evaluate whether the theoretical model of this flexible vehicle for small and medium-sized businesses is functional in practice.
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Służewska, Zuzanna. "KONTRAKT SPÓŁKI JAKO PODSTAWA ODPOWIEDZIALNOŚCI IN SOLIDUM W PRAWIE RZYMSKIM." Zeszyty Prawnicze 3, no. 1 (March 29, 2017): 43. http://dx.doi.org/10.21697/zp.2003.3.1.02.
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THE CONTRACT OF PARTNERSHIP AS A BASE OF IN SOLIDUM LIABILITY IN ROMAN LAWSummary In the modern civil law joint and several liability of partners in a partnership is a rule rather than an exception. According to the common opinion this concept did not originate in the Roman law but was first invented in the medieval times by glossators and commentators. The Roman partnership created only a private relation between partners (who, due to a conclusion of that contract were reciprocally obliged to act together in accordance with a good faith in order to conduct common business and to divide profits and bear losses in proportion to their respective shares) and its conclusion did not affect their liability against third parties. The partners had no right to bind themselves contractually to any third parties, unless they all acted jointly (in this case, however, their joint representation was derived from their expressed declarations and not the existence of a contract o f partnership). Thus, any commitment made by an individual partner, even if made within the scope of a partnership having obtained other partners’ consent, was treated as a personal debt of this partner and the remaining partners were not liable against his contractor. Then, of course, the partner who made a commitment (acting within the partnership’s business) could claim a part of what he had paid to a third party from other partners in proportion to their respective shares in the common enterprise.Such a solution was necessary because of the purely consensual character o f the Roman partnership and the lack of any formal procedure of its conclusion and dissolution. The existence of that contract could not affect the model of the external liability of partners, because it would be too risky for third parties, which had no possibility to make sure if a contract of partnership between some persons had been actually concluded or not. Thus, the role of a contract of partnership in the Roman law was only limited to determine a mutual liability o f partners, to specify their respective rights and obligations and to define the scope of their liability against other partners.There are only a few written sources concerning so called specific kinds of partnership characterized by untypical joint and several responsibility of partners. Moreover these texts are not very clear and are difficult to interpret, so the issue of specific kinds of a partnership is a matter of doubts among Romanists. Some authors even believe that the specific types of partnership did not exist in the Roman law at all.It should be firstly observed that the texts regarding a contract of partnership itself (the texts included in the title pro socio of Justinian’ Digest) did not raise the question of the external liability of partners because they were devoted to internal settlement o f accounts within sociu Thus, taking into account only these texts one cannot ascertain that a conclusion of a contract of partnership could not affect in any way the model of the partners’ liability against third parties.Secondly, the other texts concerning the regulation of conducting an economic activity in the Roman law (actio institoria, actio exercitoria and actio de peculio) present some regularity in an introduction of joint and several liability of debtors.On the one hand that model of the liability was introduced in situations in which protecting safety of trade required that the creditor be able to claim a whole amount o f the debt from one person only.On the other hand this model of liability could be introduced only in these cases in which some internal relation existed between several debtors. On the grounds of such relations the debtor who satisfied in full the creditor’s claim could sue other debtors in order to recover their respective parts in the debt. In the Roman law that internal relation that guaranteed the possibility of a recourse could be either a joint-ownership or a partnership.Having considered that, one may say that the texts concerning specific kinds o f partnership do not prove existence of any special type of societas. These sources regard only the situations when a joint and several liability between several debtors was introduced because it was justified by the circumstances: that is the necessity to protect the safety of trade on one hand and the existence of the contract of partnership that guaranteed a possibility to realize the recourse, on the other.In conclusion one may say that although a closing of a contract of partnership did not create a joint and several liability of partners, in some cases its existence was decisive for introducing this model of liability since it guaranteed to every party a possibility to act against the others to obtain the recourse. Thus, Roman jurisprudence made an important step towards the future introduction o f joint and several liability of partners as a rule of a civil law.
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Woo, Sohee and 김범수. "The Effect of Limited Liability Partnership on Audit Fee and Audit Hour." Journal of Business Education 33, no. 2 (April 2019): 117–36. http://dx.doi.org/10.34274/krabe.2019.33.2.006.
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Morris, Philip, and Joanna Stevenson. "The Jersey Limited Liability Partnership: A New Legal Vehicle for Professional Practice." Modern Law Review 60, no. 4 (July 1997): 538–51. http://dx.doi.org/10.1111/1468-2230.00097.
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Stürner, M. "Zur Pfändung eines Anteils an einer Limited Liability Partnership (LLP) britischen Rechts." JURA - Juristische Ausbildung 41, no. 10 (August 6, 2019): 1119. http://dx.doi.org/10.1515/jura-2019-2259.
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Alltizer, Richard L., and James R. Hamill. "Tax Arbitrage And Organizational Form: Allocation Flexibility In The Limited Liability Company." Journal of Applied Business Research (JABR) 10, no. 2 (September 23, 2011): 130. http://dx.doi.org/10.19030/jabr.v10i2.5947.
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<span>This paper analyzes whether an allocation of tax items among members of a limited liability company (LLC) will likely be respected by tax authorities. The LLC is a recent creation of state law that provides the liability protection of a corporation and the flexibility of partnership tax law. A present-value test must be satisfied to permit allocations among LLC members that are not proportionate to ownership interests to be respected. A model is developed to measure the present value of after-tax benefits and detriments arising from an LLC allocation, and implications of the availability of tax arbitrage for selection of the LLC organizational form are discussed.</span>
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Widi Arini, Erlina. "Pengecualian Prinsip Perjanjian dan Persekutuan Modal dalam Badan Usaha Milik Negara Persero." JURNAL RECHTENS 10, no. 2 (December 28, 2021): 153–66. http://dx.doi.org/10.56013/rechtens.v10i2.1054.
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Perseroan Terbatas (PT) merupakan badan hukum yang merupakan persekutuan modal, didirikan berdasarkan perjanjian, melakukan kegiatan usaha dengan modal dasar yang seluruhnya terbagi dalam saham yang diatur dalam Undang-Undang Nomor 40 Tahun 2007 tentang Perseroan Terbatas. Terkait PT BUMN Persero, pendiriannya dikecualikan dari syarat pendirian PT yaitu dengan perjanjian dan persekutuan modal. Tujuan penelitian ini yaitu untuk menganalisis dan menemukan pengecualian prinsip perjanjian dan persekutuan modal dalam BUMN Persero tidak bertentangan dengan prinsip keadilan. Pada penelitian ini digunakan pendekatan Doctrinal research yaitu penelitian ke dalam hukum dan konsep-konsep hukum dan Reform Oriented Research yaitu penelitian hukum yang secara intensif mengevaluasi ketercukupan aturan-aturan hukum yang telah ada yang tujuannya untuk memberikan rekomendasi dilakukannya pembaharuan terhadap kekurangan-kekurangan yang ditemukan dalam suatu aturan hukum tertentu. Hasil dari penelitian ini adalah pengecualian prinsip perjanjian dan persekutuan modal secara terbatas hanya untuk persero dalam ketentuan Pasal 7 ayat 7 Undang-Undang Perseroan Terbatas melanggar keadilan. Kata Kunci: Perseroan Terbatas, Badan Usaha Milik Negara Persero, Persekutuan Modal Abstract Limited Liability Company (PT) is a legal entity which is a capital partnership, established based on an agreement, conducting business activities with authorized capital which is entirely divided into shares as regulated in Law Number 40 of 2007 concerning Limited Liability Companies. Regarding PT BUMN Persero, its establishment is exempt from the conditions for establishing a PT, namely by agreement and capital partnership. The purpose of this study is to analyze and find exceptions to the principle of capital agreements and partnerships in BUMN Persero that do not conflict with the principles of justice. In this study, the Doctrinal research approach is used, namely research into law and legal concepts and Reform Oriented Research, namely legal research that intensively evaluates the adequacy of existing legal rules with the aim of providing recommendations for reforming the deficiencies found in the law. a certain rule of law. The result of this research is that the exclusion of the principle of agreement and limited capital partnership only for the company in the provisions of Article 7 paragraph 7 of the Company Law violates justice. Keywords: Limited Liability Company, State Owned Enterprise Persero, Capital Alliance
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Zhang, Chi. "The Distorted Governance Model of Venture Capital Limited Partnerships in China: A Political Perspective." Business Law Review 38, Issue 6 (December 1, 2017): 234–40. http://dx.doi.org/10.54648/bula2017035.
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The limited partnership has been recognized and legalized by the Law of Partnership Enterprises of China in 2006. Owing to the lack of a regime of ‘piercing the veil of limited partners’ in this legislation, however, limited partners commonly actively participate in management without any unlimited liability, which has seriously decreased the efficiency of fund management and even led to governance failures in practice. The Chinese venture capital (VC) market is commonly regarded as a striking achievement of the market economy reform of China since the 1980s, the strong state control over the VC funds in contemporary China, however, is still unshakable. This article attempts to explore the root reason of this disadvantage in Chinese partnership law by considering the role of the state in the VC industry of China during the recent decades and concludes that the lack of a regime of ‘piercing the veil of limited partners’ in Chinese partnership law is caused by the active role of the state in the VC industry and the prioritized state-owned capital in the Chinese economy.
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Veronica, Ria, and Jeane Neltje Saly. "Analysis of Limited Liability Company Supervision in Indonesia." Interdiciplinary Journal and Hummanity (INJURITY) 2, no. 11 (November 17, 2023): 932–38. http://dx.doi.org/10.58631/injurity.v2i11.141.
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This article discusses the supervision of Limited Liability Companies (PT) in Indonesia. PT is a legal entity established through an agreement and conducts business activities with divided capital in the form of shares. The article explains that supervision is carried out to ensure that PT operates in accordance with applicable laws and regulations. PT has characteristics such as separation between the company and its owners, the ability to sue and be sued on behalf of the company, and the right of shareholders to file lawsuits related to ultra vires acts. The article also explains that the requirements for establishing PT in Indonesia have undergone changes, where now PT can be established by one person and can also be operated by one person. The establishment of PT involves providing information such as the company's name, registered address, duration of establishment, purpose and objectives, business activities, capital, shareholders, and founder's data. PT must obtain legal status from the Ministry of Law and Human Rights to be recognized as a legal entity. Failure to obtain approval from the Ministry will result in PT being treated as a partnership or non-legal entity. The Ministry of Law and Human Rights has the authority to revoke the license of PT. Financial and tax supervision of PT is the responsibility of the Ministry of Finance. If the license of PT needs to be revoked, it must go through the Ministry of Law and Human Rights
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Vasiljević, Mirko. "Ugovorna odstupanja zakonom uređenih nekih prava članova privrednih društava na dispozitivan način od principa srazmernosti kapital učešća u kompanijskom pravu." Pravo i privreda 62, no. 2 (June 10, 2024): 153–96. http://dx.doi.org/10.55836/pip_24201a.
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The diversity of legal forms of companies and their legal nature determines the different approach of a legislator to the regulation of rights of those company members. Nevertheless, the dominant determination related to organization of the form of partnerships (general partnership and limited partnership) is dispositive nature of the regulation, which enables those company members to deviate from these rules in the organization of company rights in the constitutive acts, of their own free will, and to adapt them to their interests (deviation from the proportionality principle of share in the company right). The same applies to a good extent to a limited liability company, although it is of mixed legal nature of both partnership and corporation. On the other hand, the regulation of joint stock companies (especially open – public and mostly of those closed – non-public) is mostly mandatory, reducing party autonomy in regulating the rights of shareholders to the maximum possible extent down to the level of exception. This paper discusses the issue of possible limits to party autonomy of members of partnerships, as well as members of limited liability companies, in regulating some management, property, and special rights, such as the clauses created by the so-called good business practice (leonine clauses). In addition to that, considering that constitutive acts of companies and limited liability companies are also of contractual nature (which is exclusive at the moment of establishment), along with dispositive legal basis, the consideration is taken related to the question of the application of some general institutes of the contract law in the field of limiting the principle of freedom of contract, such as public order, good (business) customs, conscientiousness and honesty, abuse of rights, creation and exploitation of a monopoly in the market, equivalence of performance, equality of contracting parties, duty of care, etc. Finally, despite the identical nature of constitutive acts of the joint-stock company, given that they have a dominantly mandatory legal basis, which narrows or excludes the freedom of contract in the regulation of some rights of shareholders in the company, the issue of special legal institutes is also considered enriching the lack or narrowing of the freedom of contract of shareholders with special legal institutes which, by the will of the law (to a lesser extent by the free will of the company shareholders – e.g. voting contracts, special shareholder benefits) adapt this form of a company to the interests of shareholders (while preserving the principle of equal treatment of shareholders or equal treatment of shareholders of the same class).
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САХАРОВА, Юлия Владимировна. "FEATURES AND PLACE OF BUSINESS PARTNERSHIPS IN THE SYSTEM OF COMMERCIAL CORPORATE LEGAL ENTITIES." Rule-of-law state: theory and practice 18, no. 3(69) (October 20, 2022): 89–97. http://dx.doi.org/10.33184/pravgos-2022.3.12.
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Business partnership, as an organizational and legal form of legal entities, appeared in connection with an attempt to develop in Russia innovative venture activities similar to western organizations. However, due to the fact that this activity in Russia is not fully regulated and is risky, this form is unpopular, given that economic partnerships have general legal capacity and their legal status is not fully regulated. Having significant differences in the legal status of participants and the institution, organization and management, business partnerships are most similar to limited liability companies and economic fellowships. The similarity of business partnerships with limited liability companies is manifested in the same limit of the number of participants and the consequences of exceeding it, in the presence of a pre-emptive right to purchase the share of the participant in case of his exit. Business partnerships are similar to economic fellowships in the contractual model of functioning and in the fact that these organizations tend to «unite persons», where personal participation comes to the fore. They are also connected with each other by a legislative ban on the creation of organizations by one person. Purpose: to analyze the legal regulation of business partnerships and identify their distinctive features as a separate type of corporations, to compare them with other organizational and legal forms of legal entities. Methods: the method of interpretation and comparison, the system-structural method allows us to consider the object of the research in relation to other phenomena, as well as the method of system analysis. Results: in the system of corporate commercial organizations, a business partnership has a number of features of the composition of its participants and the order of establishment, organization and management of activities. The specifics of the legal status of participants in business partnerships are related to the requirement for them: the presence of other persons, the prohibition to be a participant or founder of a number of other legal entities, the procedure for the formation of the pooled capital.
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Kusuma, Dimas Cahya. "Pertanggungjawaban Perseroan Perorangan Pasca Pergeseran Paradigma Perseroan Terbatas Sebagai Persekutuan Modal." Jurnal Lex Renaissance 7, no. 3 (July 1, 2022): 476–90. http://dx.doi.org/10.20885/jlr.vol7.iss3.art3.
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This study aims to find out the concept of individual corporate responsibility after the enactment of the Job Creation Law. This is a normative legal research that uses a conceptual and statutory approaches. This research concludes that there is an addition to the concept of a legal entity other than a Limited Liability Company, namely an individual company which can be established only with a single shareholder provided that it fulfills the criteria attached to Small Medium Enterprises (UMK). The response to the paradigm shift from the concept of capital partnership whereby a legal entity can be established by a single shareholder is apparently not something new after seeing article 7 paragraph (5) of the Limited Liability Company Law which explains that a Company can be established only with one shareholder entity, such as State Owned Enterprises (BUMN). Meanwhile, the liability for Individual Companies is limited to the shares or assets they own as long as there are no things that are excluded as stated in Article 153 J paragraph (2) of the Law on Job Creation in the ease of doing business cluster due to amendments to the Law on Limited Liability Companies.
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den Hollander, Wouter. "Report from the Netherlands: Dutch Supreme Court Further Defines the Liability of Limited Partners in a Limited Partnership." European Company Law 14, Issue 3 (May 1, 2017): 130–31. http://dx.doi.org/10.54648/eucl2017020.
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Guinnane, Timothy W. "Creating a New Legal Form: The GmbH." Business History Review 95, no. 1 (2021): 3–32. http://dx.doi.org/10.1017/s0007680520000707.
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The most common business enterprise form in Germany today is the Gesellschaft mit beschränkter Haftung (GmbH). The GmbH offers entrepreneurs the flexibility of a partnership combined with limited liability, capital lock-in, and other traits associated with corporations. Authorized in 1892, the GmbH appeared during a period of ferment in German enterprise law and was an early example of the private limited-liability company prevalent in many economies today. The new form reflected challenges created by the corporation reform of 1884, problems in German colonial companies, and the view that British company law had put German firms at a competitive disadvantage. Significant sections of the financial and legal community harbored strong reservations about this legal innovation.
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Perakis, Evanghelos. "The New Greek Companies Act – Greek Company Law: Made in Greece or in Europe?" European Company and Financial Law Review 19, no. 3 (June 1, 2022): 339–53. http://dx.doi.org/10.1515/ecfr-2022-0016.
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Abstract Greek Company Law has its origins in the French “Code de Commerce” of 1807, which, although never legislated in Greece, applied as a Greek law to the business transactions even before the Greek Independence (1830). The German influence took over progressively early in the 20 th century. Such influence is visible in the important Law on SAs (1920), the chapter of the Greek Civil Code on the contract of society (1946) and more recently in Law 4072/2012 on commercial partnerships. The list of business associations available in Greece includes the usual business forms (general and limited partnerships, silent partnership, and capital companies) provided in continental Europe. Recent legislative developments include a new law on SAs (2018) and a new company form, the Private Company (2012), which is mostly used by small and medium entreprises. The Greek Sarl is fading out. The introduction of a new entity has been envisaged (but not yet adopted), imitating the “individual enterprise with limited liability” of French law.
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Sadowska, Monika, and Artur Wdowiak. "Partnership as a legal form of exercising the profession of midwife." Pielegniarstwo XXI wieku / Nursing in the 21st Century 16, no. 4 (December 1, 2017): 24–30. http://dx.doi.org/10.1515/pielxxiw-2017-0030.
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Abstract Introduction. The profession of midwife belongs to the medical ones. In the Polish legal system, the definition it is not of a legislative nature. It refers to liberal professions associated with practical medical knowledge. However, the profession of midwife has also been included in the catalog of liberal professions under the commercial law, and the legislature allows the practice of midwife in the form of a partnership. Nevertheless, the majority of midwives working in Poland is employed on the basis of an employment relationship and a civil law agreement, while exercising practice in the form of partnership is not a frequent choice. Aim. The purpose of this article is to profile the midwife partnership, including the approximation of its essence and purpose, as well as the rights and obligations of the partner, and discussion of the terms and conditions of the company's medical business. Summary. Compared to other commercial companies, a limited liability partnership company is an attractive legal form for exercising the profession of midwife, primarily because of the partner's liability for the company's obligations. At the same time, the midwife partnership company, by combining both a reduction of personal responsibility, transparent representation with the use of possibility of appointing a board, and the possibility of accumulating financial and intellectual capital, meets the demands of the free services market and growing competition, thereby fostering service quality.
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Rahmanda, Bagus, Yuli Prasetyo Adhi, and Herni Widarnati. "The Urgency Of The Organization And Legitimacy Of The Digitalization Of The General Meetings Of Shareholders Of The Limited Liability Company During The Covid-19 Time In Review Of The Ius Constitutum." Journal of Private and Commercial Law 6, no. 1 (June 1, 2022): 41–62. http://dx.doi.org/10.15294/jpcl.v6i1.36443.
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Limited Liability Company is a legal entity of capital partnership that is engaged in business with authorized capital which is fully divided through shares. The purpose of a limited liability company is to run a business with capital divided into shares in which the shareholders have a stake in carrying out legal actions without being responsible for themselves regarding agreements in the company. One of the organs in a limited liability company that also has an important role is the General Meeting of Shareholders. Oftentimes, the General Meeting of Shareholders is crowned as the most vital organ of a limited liability company because it has the authority that other limited company organs do not have, such as the Board of Directors and the Board of Commissioners. The rapid development of Covid-19 has hampered the holding of the GMS which was previously carried out in person but has now become virtual via teleconference media due to the physical distancing policy. Article 77 Paragraph 1 of Law Number 40 of the Year 2007 and POJK Number 16/POJK.04/2020 is a breakthrough to accommodate the online General Meeting of Shareholders of Limited Liability Companies. Based on this description, this research is aimed at knowing and analyzing the new arrangements for the General Meeting of Shareholders in Limited Liability Companies, especially in its implementation after Covid-19 hit Indonesia. The research method used is normative juridical law research, namely by collecting secondary legal data consisting of secondary and primary legal materials. Data collection techniques are carried out by studying facts, documents, and books related to the problems studied. The implementation of the digitization of the GMS can generally be carried out either through teleconference media, video conferences, or other electronic media that allows all participants to interact and participate efficiently in meetings.
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Maas, William, Kevin Bahr, and Sean Carey. "Maximizing IRA Returns Using FLP/LLC Discounting Techniques." Journal of Finance Issues 8, no. 2 (December 31, 2010): 117–25. http://dx.doi.org/10.58886/jfi.v8i2.2333.
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The purpose of this paper is to demonstrate the potential investment benefits of holding real estate inside an IRA and utilizing Family Limited Partnership (FLP) or family Limited Liability Company (LLC) discounting techniques. Statutory authority, administrative authority, and judicial authority was researched to support the conclusion that an IRA may own real estate and the Individual Retirement Account (IRA) value may be discounted for tax and minimum required distribution (MRD) purposes by using properly structured techniques.
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Subramoniam., K. "Limited Liability Partnership - An Emerging form of Business Organization for Entrepreneurs, SMEs and Service Providers." FIIB Business Review 2, no. 3 (July 2013): 22–29. http://dx.doi.org/10.1177/2455265820130303.
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Efferin, James Ridwan. "The Legal Consequences of a Married Couple as being the Sole Founders in the Partnership." Hang Tuah Law Journal 3, no. 2 (March 30, 2020): 190. http://dx.doi.org/10.30649/htlj.v3i2.141.
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<p class="Default">A Partnership Firm (“Firma”) and a Limited Partnership/Commanditaire Vennootschap (“CV”) in Indonesia are regulated in the First Book of the Commercial Code of Indonesia, chapter the Third (Regarding the various Companies), in the First and Second section.</p><p class="Default">Both partnerships are considered to be the special form of the civil partnership/Maatschap, which is regulated in the Civil Code of Indonesia (Article 1618 – 1652).</p><p class="Default">According to Rudhi Prasetya, “In practice, it is not uncommon for us to see a Firma or CV that has only 2 partners, of which they are husband [and] wife.”</p><p class="Default">Therefore the main issue will be the legitimacy of the said partnership if it has only a husband and wife as the founders/partners, especially if the said husband and wife do not make any separate marital property agreement.</p><p class="Default">What will be the legal consequences if the said condition happens, especially the external liability to the third party.</p><p class="Default">The main objective of this writing is to give an argumentation and the legal standing that a married couple can actually establish and be the sole founders/partners in a partnership with all of its consequences, even though they did not make any separate marital property agreement.</p>
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Abramitzky, Ran, Zephyr Frank, and Aprajit Mahajan. "Risk, Incentives, and Contracts: Partnerships in Rio de Janeiro, 1870–1891." Journal of Economic History 70, no. 3 (September 2010): 686–715. http://dx.doi.org/10.1017/s0022050710000586.
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We construct an individual-level data set of partnership contracts in late-nineteenth-century Rio de Janeiro to study the determinants of contract terms. Partners with limited liability contributed more capital and received lower draws for private expenses and lower profit shares than their unlimited partners. Unlimited partners in turn received higher-powered incentives when they contracted with limited partners than when they contracted with unlimited partners. A reform that changed the relative bargaining power further improved the terms of unlimited partners in limited firms. These findings highlight the roles of risk, incentives, and bargaining power in shaping contracts.
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Guest, Kristen. "JEKYLL AND HYDE, INC.: LIMITED LIABILITY, COMPANIFICATION, AND GOTHIC SUBJECTIVITY." Victorian Literature and Culture 44, no. 2 (May 10, 2016): 315–29. http://dx.doi.org/10.1017/s1060150315000649.
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The emergence of limited liabilityover the course of the nineteenth century was marked by intense and sustained feelings of anxiety. Victorians debated it in Parliament and in the periodical press, anatomized its evils in fiction and drama, and theorized its merits and pitfalls in the nascent discipline of economics. Formalized at mid-century through a series of acts that collectively instituted what Paul Johnson describes as “companification” – “the substitution of an impersonal corporate legal entity for the sole proprietorship or partnership” – limited liability was the means by which a corporation was constituted as a legal individual in order to restrict the responsibility of a company's owners for its debts (106). Early response to the practice was tentative: though hailed by some as a means of promoting economic growth, limited liability also inspired fear among the public, for whom it seemed a threat both to moral character and to responsible social behaviour. Wary that it would promote dishonesty in business and legitimize irresponsible speculation among investors, the mid-Victorians did not initially rush to invest. Despite the fact that by the final decades of the century many early fears had been realized and anxieties about investment continued unabated, however, there was a marked shift towards a culture of investment (Taylor 212–13). Summarizing the effects of the “‘Limited-Company’ Craze” in theNineteenth Centuryin 1898, one commentator observed that “Personal ownership has ceased to be the controlling power in trade; and when it left it took along with it that personal care, personal supervision, and personal responsibility which made our business great.” The result, he suggested, is that “we now have, in thousands of instances, mere ‘corporations without bodies to be kicked or souls to be damned’” (Van Oss 734).
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А. К. Zhussupova, B. S. Utibayev, G. B. Utibayeva, D. Т. Ahmetova, R. М. Zhunusova, and Jamila Leontieva. "ACTIVITY RESULTS OF LOAN PARTNERSHIPS AND AGRICULTURAL PRODUCERS." BULLETIN 1, no. 383 (February 15, 2020): 199–206. http://dx.doi.org/10.32014/2020.2518-1467.25.
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The article outlines the issues of financial support provided to agricultural producers through a lending system. The results of the activities of credit partnerships were analyzed using the example of Credit Partnership (СP) Tselinogradskoye Limited Liability Partnership (LLP) in Akmola region and the agricultural enterprise Aktyk Agrofirm JSC. CP Tselinogradskoye LLP provides soft loans and subsidies at interest rates that are much lower than market rates. The performance of the credit partnership, which is ensured by annual monitoring by the CP of the targeted use of bank loans and borrowings, the financial condition of the business entity, as well as their collateral. The relationship of the results of production and financial activities of agricultural business entity and credit unions, reasonable given the specific data of participants who received loans due to improved their operational and financial performance. It is noted that the effectiveness of the use of financial resources, regardless of their structuring and affiliation, is expressed through indicators of productive production activities of the enterprise. It is substantiated that, based on the principles of a systematic approach, the optimization of the structure of the formation of financial resources should be considered from the point of view of interdependence and interaction with production efficiency.
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Dharsana, I. Made Pria, Indrasari Kresnadjaja, I Gusti Agung Jordi, and I Putu Lingga Dhananjaya. "RESPONSIBILITY OF THE BOARD OF DIRECTORS ON IMPLEMENTATION OF COMPANY WHEN CONFLICT WITH COMMISSIONERS." Journal Equity of Law and Governance 1, no. 2 (October 6, 2021): 89–94. http://dx.doi.org/10.55637/elg.1.2.3852.89-94.
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Limited Liability Company hereinafter referred to as Company is a legal entity which is a capital partnership. It is established based on an agreement to conduct a business activities with authorized capital. This is entirely divided into shares or individual legal entities which all meet the criteria for Micro and meet the requirements set out in The Law on Limited Liability Companies and its implementing regulations (Law Number 11 of 2020 regarding Job Creation) which changes several definitions of Limited Liability Companies as regulated in Law Number 40 of 2007 (hereinafter referred to as UUPT). The research method used in this writing is a normative legal research method which analyzes the problem through an approach to legislation, theory and applicable principles. Talking about the applicable provisions in the important organs of the Limited Liability Company. The Limited Liability Company Organ itself is a Group of Organs consisting of the General Meeting of Shareholders (hereinafter referred to as GMS), the Board of Directors, and the Board of Commissioners. Among the three organs of a limited liability company, the directors have full authority over the company. Based on the provisions of Article 1 paragraph (5) of the Company Law, “The Board of Directors is an organ of the Company which is authorized and fully responsible for the management of the Company for the benefit of the Company in accordance with the aims and objectives of the Company and represents the Company both inside and outside the court in accordance with the provisions of the articles of association”. Besides that, in a company, the board of directors is the party who has the most important role, both in managing the company, managing it, and advancing it. The Board of Directors is appointed by the GMS, as referred to in Article 94 paragraph (1) of the Company Law, that; “Members of the Board of Directors are appointed by the GMS.” And further paragraph (3) members of the Board of Directors are appointed for a certain period of time and may be reappointed.