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✒️ Limited partnership agreement

A limited partnership agreement is a contract between two or more people who agree to form a limited partnership. The agreement sets forth the nature of the business, the roles of the partners, and the rights and responsibilities of each partner. The agreement also establishes the limits on the liability of each partner.

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✒️ Limited partnership agreement templates

Standard Limited Partnership Agreement (England)

The Standard Limited Partnership Agreement (England) under UK law is a legal template document outlining the terms and conditions governing a limited partnership in England. A limited partnership is a common vehicle for business entities where one or more general partners manage the partnership's operations and are personally liable for its debts, while limited partners contribute capital but have limited liability.

This agreement serves as a foundational document that defines the rights, responsibilities, and obligations of the general partners and limited partners within the partnership structure. It covers various aspects such as the roles and responsibilities of each partner, the initial contributions made by the partners, and how profits and losses will be allocated. Additionally, it outlines the procedures for admitting new partners, transferring partnership interests, and resolving disputes among partners, if any.

The agreement also addresses matters related to management and decision-making, including the authority granted to the general partners, procedures for meetings, voting rights, and the nature of partner consensus. It may further stipulate provisions regarding the duration of the partnership, termination conditions, and procedures for winding down the partnership in case of dissolution or insolvency.

These standard terms and conditions are designed to offer a fair and balanced framework that complies with UK legal requirements while providing contractual clarity and protection for all parties involved. However, it is crucial to note that this template is not comprehensive legal advice, and any business or individual seeking to create a limited partnership should consult with a qualified legal professional to tailor the agreement to their specific needs and to ensure compliance with the most up-to-date UK legislation.
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Publisher

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Jurisdiction

England and Wales
TEMPLATE
USED BY
100K
RATINGS
4.5
DISCUSSIONS
10

Associated business activities

Start a new business

To start a business in the UK, you will need to choose a business structure, register your business, get a business bank account, draw up contracts, and comply with regulations.

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Create limited partnership

A limited partnership is a business arrangement between two or more people, who agree to share profits, losses, and control of the business.

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