Limited liability partnership agreement governs partners' mutual rights and duties, with filing, ratification and statutory defaults. The mutual rights and duties of LLP partners, and of the LLP and its partners, are governed by the limited liability partnership agreement, which and its amendments must be filed with the Registrar as prescribed. Pre-incorporation written agreements can bind the LLP if ratified by all partners after incorporation. Absent agreement on any matter, the mutual rights and duties are determined by the provisions set out in the First Schedule as statutory defaults.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Limited liability partnership agreement governs partners' mutual rights and duties, with filing, ratification and statutory defaults.
The mutual rights and duties of LLP partners, and of the LLP and its partners, are governed by the limited liability partnership agreement, which and its amendments must be filed with the Registrar as prescribed. Pre-incorporation written agreements can bind the LLP if ratified by all partners after incorporation. Absent agreement on any matter, the mutual rights and duties are determined by the provisions set out in the First Schedule as statutory defaults.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.