Dangerous liaisons
Article Abstract:
UK construction consultants should be aware that there can be dangers associated with entering into contracts on behalf of a client or acting in some other way on a client's behalf. Consultants must ensure that they are being requested to act on the client's behalf, and are not undertaking the commission through others. They must also be sure about how far they can commit the client to the terms of a contract. Payment should be made directly by the client, even though an agent has the right to an indemnity from the client for any money paid.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1998
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Cutting your losses
Article Abstract:
The debate which currently surrounds the UK government's plans to allow the creation of limited liability partnerships centres on the measures required to protect the creditors of such partnerships. The department of trade and industry is likely to propose a number of different protection measures. This will mean that limited liability partnerships will resemble a limited company but lack some of the benefits of incorporation. The basic concept is very positive, but may be harmed by excessively complex measures to protect creditors.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1997
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Limitation: a good thing
Article Abstract:
Companies will benefit from tax incentives, National insurance savings and practice risk if they convert their legal status to limited liability partnerships (LLPs). The UK government is promoting the idea of LLPs as a method of improving company registrations and reducing the number of off-shore registrations. It is thought mainly professionals firms will take advantage of the benefits offered by being registered as a LLP. Legal requirements mean two people may establish a LLP, both becoming members rather than partners.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1998
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