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Partnership Law
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Listen and pass the quiz: Gain 1 CPD point (60 minutes)
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  • FREE
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
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Course Aims:

This podcast will be of interest to those practising in partnership law or those interested in fiduciary obligations in the employment law sphere. It aims to provide the listener with an overview of the principal statutory and common law duties of partners, the duty not to profit, the duty of disclosure and the duty of good faith. It touches upon the limitations of these obligations, at when they end in cases of dissolution and retirement and which (and to what extent) any of these duties may be excluded.

After completing the course you will:
  • Understand why partners are bound together by fiduciary responsibilities and how they differ from the responsibilities of directors and trustees;
  • Know the scope of the duty not to make a secret profit;
  • Know what duty a partner has to make disclosure of information to his co-partners;
  • Understand the scope of the general duty of good faith and its potential limitations.
Beginner Difficulty: 1 of 5
Sources and References:
  • Ss 24(9), 28, 29, 30 Partnership Act 1890;
  • Limited Liability Partnership Act 2000;
  • s 459 Companies Act 1985;
  • s 994 Companies Act 1985;
  • Regulation 7 of the Limited Liability Partnership Regulations 2001;
  • Keech v Sandford (1721) Sel. Cas. Ch. 61;
  • Don King Promotions Inc v Warren [2000] Ch 291;
  • Kao Lee & Yip v Koo Hoi Ya [2003] WTLR 1283;
  • Aas v Benham [1891] 2 Ch 244;
  • Dunne v English (1874) 18 Eq 524;
  • John Taylors (A Firm) v Masons [2001] EWCA Civ 2106;
  • HIH Casualty and General Insurance Ltd v Chase Manhattan Bank [2003] UKHL 6;
  • Murad v Al Saraj [2005] EWCA Civ 959;
  • Cobbetts LLP v Hodge [2009] EWHC 786 (Ch).

In this podcast with Jennifer Haywood of Serle Court, will look at the various fiduciary duties owed between members of a partnership and between and LLP and its members. This podcast examines the statutory and common law obligations amongst partners: not to make a secret profit, the duty for partners to make full and frank disclosure and the overarching duty of general good faith. It will look at the various limitations on these duties and in what circumstances they might be limited.

Podcast added 14/08/09

Podcast last reviewed: 2011-05-31

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