The Uniform Partnership Act
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Natural Persons, Juridical Persons and Legal Personhood
Esta revista forma parte del acervo de la Biblioteca Jurídica Virtual del Instituto de Investigaciones Jurídicas de la UNAM www.juridicas.unam.mx http://biblio.juridicas.unam.mx exican M Review aw L New Series V O L U M E VIII Number 1 NATURAL PERSONS, JURIDICAL PERSONS AND LEGAL PERSONHOOD Elvia Arcelia QUINTANA ADRIANO* ABSTRACT. The study of commercial law can be divided into four basic ca- tegories: (a) individuals (natural persons); (b) objects of commerce; (c) legal instruments and (d) administrative and legal procedures. Business relations bet- ween individuals and business entities requires significant legal documentation, including atypical or nonstandard business contracts. A central feature of all business transactions is the “legal entity”, used by organizations worldwide to conduct business. In order for many businesses to carry out routine activities, they must have many of the same legal rights and responsibilities as natural persons. In a word, these entities require “legal personhood”. Which leads us to the question of Legitimation. The most widely used legal instruments are nons- tandardized business contracts. In essense, this is the delineation of contracting parties as entities with well-defined rights and obligations. This authority de- pends, in turn, on the legitimacy of the “personhood” of the contracting parties, which is often a point of dispute in business relations. Regardless of whether one accepts the use of terms “legal entity” and “legal personhood”, they often give rise to immeasurable and diverse conflicts domestically, regional and at global level. This had led to efforts to improve the rules of the International Chamber of Commerce and improve legal models that provide guidance to di- verse nations. -
Partnership Management & Project Portfolio Management
Partnership Management & Project Portfolio Management Partnerships and strategic management for projects, programs, quasi- projects, and operational activities In the digital age – we need appropriate socio-technical approaches, tools, and methods for: • Maintainability • Sustainability • Integration • Maturing our work activities At the conclusion of this one-hour session, participants will: • Be able to define partnership management and project portfolio management. • Be able to identify examples of governance models to support partnerships. • Be able to share examples of document/resource types for defining and managing partnerships within project portfolio management. • Be able to describe how equity relates to partnerships and partnership management. Provider, Partner, Pioneer Digital Scholarship and Research Libraries Provider, Partner, Pilgrim (those who journey, who wander and wonder) https://www.rluk.ac.uk/provider-partner-pioneer-digital-scholarship-and-the-role-of-the-research-library-symposium/ Partners and Partnership Management Partner: any individual, group or institution including governments and donors whose active participation and support are essential for the successful implementation of a project or program. Partnership Management: the process of following up on and maintaining effective, productive, and harmonious relationships with partners. It can be informal (phone, email, visits) or formal (written, signed agreements, with periodic review). What is most important is to: invest the time and resources needed to -
Law Review Law Review
HARVARDHARVARD LAW REVIEWREVIEW VOL.VOL. XXXIVXXXIV MAY,MAY, 19211921 NO.NO.7 7 THETHE UNIFORMUNIFORM ACTACT ONON DECLARATORYDECLARATORY R-D]1JDGMENTS GMENTS T HE National Conference ofof Commissioners on Uniform State T Laws at itsits session inin St. Louis in August, 192o,1920, approved thethe first draft of a Uniform Act on DeclaratoryDeclaratory Judgments. At thethe next session of the Conference in 1921 the Act will probably receive final approval and be recommended to legislatures for enactment. The importance of the recommendationsrecommendations of this august body in promoting the enactment of legislation in our states warwar- rants some comment upon the draft they have approved. Although a few instances of statutory authorization for the rendering of declaratory judgments may be found in our state legislegis- lation prior to 1918, such as the California Act of 1850,1185o,l the Rhode Island Act of 1876,2 the New Jersey Act of 1915,3i915,' the Connecticut 11 CALIFORNIACAL moNIA PRACTICEPRAcrIcE Acr,AcT, § 527: "An"An actionaction may be broughtbrought byby one person against another, forfor thethe purpose of determiningdetermining an adverseadverse claimclaim whiellwhich the latterlatter makes against the former, forfor money or property, upon anan allegedalleged obligation." See KingKing v. Hall,SHall, 5 Cal.Cal. 8383 (1855).(1855). Cf. thethe actionaction of jactitation, stillstill usedused inin many councoun- triestries adopting thethe civilcivil law,law, 2828 YALEYALE L. J. I,I, 20. r9o9, ch. 289, 22 RHODER oDE ISLAND,ISLAND, AcrsAcrs && REsOLVES,RESOLVES, 1?76,I876, ell.ch. 563, § 17,17, GEN. LAWSLAWS 1909, ell. 289, §§ 19:ig: "No"No suitsuit inin equityequity shallshall bebe defeateddefeated on thethe groundground thatthat aa mere declaratory decree isis sought;sought; andand thethe courtcourt may makemake bindingbinding declarationsdeclarations ofof rightright inin equity,equity, withoutwithout grantinggranting consequentialconsequential relief."relief." InIn Hanley v.v. -
Partnership Agreement Example
Partnership Agreement Example THIS PARTNERSHIP AGREEMENT is made this __________ day of ___________, 20__, by and between the following individuals: Address: __________________________ ___________________________ City/State/ZIP:______________________ Address: __________________________ ___________________________ City/State/ZIP:______________________ 1. Nature of Business. The partners listed above hereby agree that they shall be considered partners in business for the following purpose: ______________________________________________________________________________ ______________________________________________________________________________ 2. Name. The partnership shall be conducted under the name of ________________ and shall maintain offices at [STREET ADDRESS], [CITY, STATE, ZIP]. 3. Day-To-Day Operation. The partners shall provide their full-time services and best efforts on behalf of the partnership. No partner shall receive a salary for services rendered to the partnership. Each partner shall have equal rights to manage and control the partnership and its business. Should there be differences between the partners concerning ordinary business matters, a decision shall be made by unanimous vote. It is understood that the partners may elect one of the partners to conduct the day-to-day business of the partnership; however, no partner shall be able to bind the partnership by act or contract to any liability exceeding $_________ without the prior written consent of each partner. 4. Capital Contribution. The capital contribution of -
Limited Liability Partnerships
inbrief Limited Liability Partnerships Inside Key features Incorporation and administration Members’ Agreements Taxation inbrief Introduction Key features • any members’ agreement is a confidential Introduction document; and It first became possible to incorporate limited Originally conceived as a vehicle liability partnerships (“LLPs”) in the UK in 2001 • the accounting and filing requirements are for use by professional practices to after the Limited Liability Partnerships Act 2000 essentially the same as those for a company. obtain the benefit of limited liability came into force. LLPs have an interesting An LLP can be incorporated with two or more background. In the late 1990s some of the major while retaining the tax advantages of members. A company can be a member of an UK accountancy firms faced big negligence claims a partnership, LLPs have a far wider LLP. As noted, it is a distinct legal entity from its and were experiencing a difficult market for use as is evidenced by their increasing members and, accordingly, can contract and own professional indemnity insurance. Their lobbying property in its own right. In this respect, as in popularity as an alternative business of the Government led to the introduction of many others, an LLP is more akin to a company vehicle in a wide range of sectors. the Limited Liability Partnerships Act 2000 which than a partnership. The members of an LLP, like gave birth to the LLP as a new business vehicle in the shareholders of a company, have limited the UK. LLPs were originally seen as vehicles for liability. As he is an agent, when a member professional services partnerships as demonstrated contracts on behalf of the LLP, he binds the LLP as by the almost immediate conversion of the major a director would bind a company. -
Uniform Restrictive Employment Agreement Act]
D R A F T FOR DISCUSSION ONLYAPPROVAL Uniform Covenants Not to Compete Act [Tentative new name: Uniform Restrictive Employment Agreement Act] Uniform Law Commission June 8MEETING IN ITS ONE-HUNDRED-AND-THIRTIETH YEAR MADISON, WISCONSIN JULY 9 – 15, 2021 Informal Session Copyright © 2021 National Conference of Commissioners on Uniform State Laws This draft, including the proposed statutory language and any comments or reporter’s notes, has not been reviewed or approved by the Uniform Law Commission or the drafting committee. It does not necessarily reflect the views of the Uniform Law Commission, its commissioners, the drafting committee, or the committee’s members or reporter. June 2 July 8, 2021 Uniform Covenants Not to CompeteRestrictive Employment Agreement Act The committee appointed by and representing the National Conference of Commissioners on Uniform State Laws in preparing this act consists of the following individuals: Richard T. Cassidy Vermont, Co-Chair H. Clayton Walker South Carolina, Vice-Chair Vincent P. Cardi West Virginia Paul W. Chaiken Maine Anne E. Hartnett Delaware Joanne B. Huelsman Wisconsin Peter F. Langrock Vermont Gene N. Lebrun South Dakota David C. McBride Delaware Mark H. Ramsey Oklahoma Kenneth M. Rosen Alabama Keith A. Rowley Nevada Justin L. Vigdor New York Steven L. Willborn Nebraska Joan Zeldon District of Columbia William W. Barrett Indiana, Division Chair Carl H. Lisman Vermont, President Other Participants Stewart J. Schwab New York, Reporter Stephen Y. Chow Massachusetts, American Bar Association Advisor Joanne M. Pepperl Nebraska, Style Liaison Tim Schnabel Illinois, Executive Director Copies of this act may be obtained from: Uniform Law Commission 111 N. -
Basic Concepts Page 1 PARTNERSHIP ACCOUNTING
Dr. M. D. Chase Long Beach State University Advanced Accounting 1305-87B Partnership Accounting: Basic Concepts Page 1 PARTNERSHIP ACCOUNTING I. Basic Concepts of Partnership Accounting A. What is A Partnership?: An association of two or more persons to carry on as co-owners of a business for a profit; the basic rules of partnerships were defined by Congress: 1. Uniform Partnership Act of 1914 (general partnerships) 2. Uniform Limited Partnership Act of 1916 (limited partnerships) B. Characteristics of a Partnership: 1. Limited Life--dissolved by death, retirement, incapacity, bankruptcy etc 2. Mutual agency--partners are bound by each others’ acts 3. Unlimited Liability of the partners--the partnership is not a legal or taxable entity and therefore all debts and legal matters are the responsibility of the partners. 4. Co-ownership of partnership assets--all assets contributed to the partnership are owned by the individual partners in accordance with the terms of the partnership agreement; or equally if no agreement exists. C. The Partnership Agreement: A contract (oral or written) which can be used to modify the general partnership rules; partnership agreements at a minimum should cover the following: 1. Names or Partners and Partnership; 2. Effective date of the partnership contract and date of termination if applicable; 3. Nature of the business; 4. Place of business operations; 5. Amount of each partners capital and the valuation of each asset contributed and date the valuation was made; 6. Rights and responsibilities of each partner; 7. Dates of partnership accounting period; minimum capital investments for each partner and methods of determining equity balances (average, weighted average, year-end etc.) 8. -
Limited Partnerships
INTELLECTUAL PROPERTY AND TRANSACTIONAL LAW CLINIC LIMITED PARTNERSHIPS INTRODUCTORY OVERVIEW A limited partnership is a business entity comprised of two or more persons, with one or more general partners and one or more limited partners. A limited partnership differs from a general partnership in the amount of control and liability each partner has. Limited partnerships are governed by the Virginia Revised Uniform Partnership Act,1 which is an adaptation of the 1976 Revised Uniform Limited Partnership Act, or RULPA, and its subsequent amendments. HOW A LIMITED PARTNERSHIP IS FORMED To form a limited partnership in Virginia, a certificate of limited partnership must be filed with the Virginia State Corporation Commission. This is different from general partnerships which require no formal recording with the Commonwealth. The certificate must state the name of the partnership,2 and, the name must contain the designation “limited partnership,” “a limited partnership,” “L.P.,” or “LP;” which puts third parties on notice of the limited liability of one or more partners. 3 Additionally, the certificate must name a registered agent for service of process, state the Post Office mailing address of the company, and state the name and address of every general partner. The limited partnership is formed on the date of filing of the certificate unless a later date is specified in the certificate.4 1 VA. CODE ANN. § 50, Ch. 2.2. 2 VA. CODE ANN. § 50-73.11(A)(1). 3 VA. CODE ANN. § 50-73.2. 4 VA. CODE ANN. § 50-73.11(C)0). GENERAL PARTNERS General partners run the company's day-to-day operations and hold management control. -
Effects of Partner Characteristic, Partnership Quality, and Partnership Closeness on Cooperative Performance: a Study of Supply Chains in High-Tech Industry
Management Review: An International Journal Volume 4 Number 2 Winter 2009 Effects of Partner Characteristic, Partnership Quality, and Partnership Closeness on Cooperative Performance: A Study of Supply Chains in High-tech Industry Mei-Ying Wu Department of Information Management Chung-Hua University Hsin-Chu Taiwan, Republic of China Email: [email protected] Yun-Ju Chang Department of Information Management Chung-Hua University Hsin-Chu Taiwan, Republic of China Email: [email protected] Yung-Chien Weng Department of Information Management Chung-Hua University Hsin-Chu Taiwan, Republic of China Email: [email protected] Received May 28, 2009; Revised Aug. 14, 2009; Accepted Oct. 21, 2009 ABSTRACT Owing to the rapid development of information technology, change of supply chain structures, trend of globalization, and intense competition 29 Management Review: An International Journal Volume 4 Number 2 Winter 2009 in the business environment, almost all enterprises have been confronted with unprecedented challenges in recent years. As a coping strategy, many of them have gradually viewed suppliers as “cooperative partners”. They drop the conventional strategy of cooperating with numerous suppliers and build close partnerships with only a small number of selected suppliers. This paper aims to explore partnerships between manufacturers and suppliers in Taiwan’s high- tech industry. Through a review of literature, four constructs, including partner characteristic, partnership quality, partnership closeness, and cooperative performance are extracted to be the basis of the research framework, hypotheses, and questionnaire. The questionnaire is administered to staff of the purchasing and quality control departments in some high-tech companies in Taiwan. The proposed hypotheses are later empirically validated using confirmatory factor analysis (CFA) and structural equation modeling (SEM). -
Rule of Law Programs
\ Rule of Law Programs . , , . _ . .. .. · · Pubhshell by the Olfl~e ol lh~ Coorci111ator ol U.S .. Spring 1995 · Assistance to the New lndepenclent SI ales '\~E During the Vancouver Summit in (") ?'~ ,, , The United Stata Agency for April 1993, President Clinton 0 .-·.':. 1. · . International Development expressed his support and Q (USAID) commitment to provide assistance for USAID currently funds a Democracv-building initiatives in the * number of private consulting firms former S~viet Union. One of the I and nonprofit institutions to main pillars of his initiative is to i~~ Q administer rule o~ law acti~ties in promote the "rule of law" by 'h. '~ ~ Russia. The funding level lS · developing and strengthening the ~ '-tJi'tlC.ffi~l'Jt'!:'~~':T t}' estimated at $80 million over a five laws. legal infrastructure and Ci\ic «'<'.) ~ year period. These firms and. · institutions that support democra~ · Sr .LIT o": ~ institutions include the Ameri~ , _ and a free market economy. "Rule of ,, Bar Association Central and EUt law" in its broadest sense means that The goals of the rule of law European Law Initiative all components of society. the programs are to support ~he (ABA/CEELO, the Ruic o~LaW government and the governed. realization of the following Consortium (ARD Checchi}, the operate under the same legal conditions in the NIS: Institutional Reform and the constraints .md with the same legal Informal Sector (IRIS) at the rights. The legal syste~ must not • all elements of society o~rate University of Maryland. Booz. only exist on paper. but in pracuce. undc'f. the same set of legal nghts ·Allen/Steptbe and Johnson, and the Therefore. -
ACCOUNTING for PARTNERSHIPS and LIMITED LIABILITY CORPORATIONS Objectives
13 ACCOUNTING FOR PARTNERSHIPS AND LIMITED LIABILITY CORPORATIONS objectives After studying this chapter, you should be able to: Describe the basic characteristics of 1 proprietorships, corporations, partner- ships, and limited liability corpora- tions. Describe and illustrate the equity re- 2 porting for proprietorships, corpora- tions, partnerships, and limited liability corporations. Describe and illustrate the accounting 3 for forming a partnership. Describe and illustrate the accounting 4 for dividing the net income and net loss of a partnership. Describe and illustrate the accounting 5 for the dissolution of a partnership. Describe and illustrate the accounting 6 for liquidating a partnership. Describe the life cycle of a business, 7 including the role of venture capital- ists, initial public offerings, and under- writers. PHOTO: © EBBY MAY/STONE/GETTY IMAGES IIf you were to start up any type of business, you would want to separate the busi- ness’s affairs from your personal affairs. Keeping business transactions separate from personal transactions aids business analysis and simplifies tax reporting. For example, if you provided freelance photography services, you would want to keep a business checking account for depositing receipts for services rendered and writing checks for expenses. At the end of the year, you would have a basis for determining the earn- ings from your business and the information necessary for completing your tax re- turn. In this case, forming the business would be as simple as establishing a name and a separate checking account. As a business becomes more complex, the form of the business entity becomes an important consideration. The entity form has an im- pact on the owners’ legal liability, taxation, and the ability to raise capital. -
Uniform Trust Code Final Act with Comments
UNIFORM TRUST CODE (Last Revised or Amended in 2010) Drafted by the NATIONAL CONFERENCE OF COMMISSIONERS ON UNIFORM STATE LAWS and by it APPROVED AND RECOMMENDED FOR ENACTMENT IN ALL THE STATES at its ANNUAL CONFERENCE MEETING IN ITS ONE-HUNDRED-AND-NINTH YEAR ST. AUGUSTINE, FLORIDA JULY 28 – AUGUST 4, 2000 WITH PREFATORY NOTE AND COMMENTS Copyright © 2000, 2010 By NATIONAL CONFERENCE OF COMMISSIONERS ON UNIFORM STATE LAWS April 10, 2020 1 ABOUT NCCUSL The National Conference of Commissioners on Uniform State Laws (NCCUSL), now in its 114th year, provides states with non-partisan, well-conceived and well-drafted legislation that brings clarity and stability to critical areas of state statutory law. Conference members must be lawyers, qualified to practice law. They are practicing lawyers, judges, legislators and legislative staff and law professors, who have been appointed by state governments as well as the District of Columbia, Puerto Rico and the U.S. Virgin Islands to research, draft and promote enactment of uniform state laws in areas of state law where uniformity is desirable and practical. $ NCCUSL strengthens the federal system by providing rules and procedures that are consistent from state to state but that also reflect the diverse experience of the states. $ NCCUSL statutes are representative of state experience, because the organization is made up of representatives from each state, appointed by state government. $ NCCUSL keeps state law up-to-date by addressing important and timely legal issues. $ NCCUSL’s efforts reduce the need for individuals and businesses to deal with different laws as they move and do business in different states.