(3) Salaried partnersIn addition to the LLP point, one other modern complication is the existence of two hybrid forms of partner, short of a full equity partner. The first is often referred to as a 'salaried partner'. In Stekel v Ellice [1973] 1 All ER 465, [1973] 1 WLR 191, CL D, Megarry J said that 'The term “salaried partner” is not a term of art, and to some extent may be said to be a contradiction in terms'. This case is one of the very few to consider the nature of such a partnership and was ambiguous (for present purposes) in its result which was that, even if the claimant was a partner, the actual arrangement in question barred him from claiming any of the capital that he was seeking in any event. However, Megarry J (stating that he could derive little assistance from the older
In addition to the LLP point, one other modern complication is the existence of two hybrid forms of partner, short of a full equity partner. The first is often referred to as a 'salaried partner'. In Stekel v Ellice [1973] 1 All ER 465, [1973] 1 WLR 191, CL D, Megarry J said that 'The term “salaried partner” is not a term of art, and to some extent may be said to be a contradiction in terms'. This case is one of the very few to consider the nature of such a partnership and was ambiguous (for present purposes) in its result which was that, even if the claimant was a partner, the actual arrangement in question barred him from claiming any of the capital that he was seeking in any event. However, Megarry J (stating that he could derive little assistance from the older
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