The question (15 marks)
What is a limited liability partnership agreement, and what must it contain? Explain the statutory scheme that governs it, the default rules that apply where the agreement is silent, and how such an agreement differs from a partnership deed. (15 marks)
MU Module III, 3.1; pack ch. 03, limited liability partnership agreement.
Plan your answer on paper before you look at the authorities — issue first, then the rule, then apply it to these facts.
It tests Unit 3 · LLP, Company Notices and Insolvency of Drafting, Pleading and Conveyancing – II.
Authorities you will need
- Limited Liability Partnership Act 2008, sections 3 and 4
- Limited Liability Partnership Act 2008, section 2(1)(o)
- Limited Liability Partnership Act 2008, section 23 and the First Schedule
- Limited Liability Partnership Act 2008, sections 6 and 7
- Limited Liability Partnership Act 2008, sections 24 and 25
- Limited Liability Partnership Act 2008, sections 26 to 28
- Limited Liability Partnership Act 2008, sections 32, 33, 34, 35 and 42
- Arbitration and Conciliation Act 1996
How an answer is marked
A full-marks answer names the issue in one line, states the rule with its section, cites the authority, applies it to these facts and concludes — in that order. The app's model answer for this question is written in exactly that shape, with a checklist to mark your own attempt against.