This chapter explains how a person ceases to be a member, and what the consequences of termination of membership is, both in terms of relations with third parties and in terms of relations between the departing member and the LLP. It considers the application of post-termination controls on a departing member.
Chapter
16. Termination of Membership
Chapter
12. Membership
This chapter explains what membership of an LLP entails. It explains how a person becomes a member of an LLP, and the different types of membership that are recognised in law. It considers case law on the question as to whether a person can be both a member and an employee, and both a member and a worker. Finally, it explains how a person might be disqualified from being a member of an LLP and the consequences of such a person acting as a member whilst disqualified.
Chapter
14. The LLP Agreement
This chapter explains what the LLP Agreement does, and what default provisions exist in the absence of agreement. It considers whether a duty of good faith exists within the LLP Agreement. It discusses how an LLP Agreement might be amended, and considers the application of contractual remedies: damages, rescission, repudiation and frustration.
