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Commentary

69.2 Drafting issues

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

69.2 Drafting issues

| Commentary

69.2 Drafting issues

The default code’s emphasis on equality of profit-sharing reflects a basic model where all of the partners commit an equal, or very similar, amount of time to the running of the partnership. In practice, this may be far from the truth, with some partners only working part-time in the business and others perhaps playing no active part at all, in other words, taking the role of sleeping partners. The partnership agreement may seek to take account of this imbalance in working commitment in several different ways. One approach is to reflect the imbalance in working hours in

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