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Commentary

65.2 Drafting issues

BUSINESSES vol 4(2) start-up, sale and purchase
| Commentary

65.2 Drafting issues

| Commentary

65.2 Drafting issues

The legal adviser must consider whether the parties’ intentions as to the commencement of the partnership coincide with the legal position under the Partnership Act 1890. Ideally, the commencement date set out in the partnership agreement should be the same as the legal commencement date under the Partnership Act 1890. If there is a discrepancy, this may cause confusion in the event of any dispute arising between the participants.

Particular drafting problems arise where the partnership agreement is effectively formalising a pre-existing partnership relationship, for instance, where the partnership business has been operating for some

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