With reference to both Statute and the common law, describe the nature of a limited liability partnership, (“LLP”). Critically assess the advantages and disadvantages of an LLP compared with those of a partnership under the Partnership Act 1890 and a private limited company.
OBJECTIVE:
The objective of this written assignment is for you to provide a comprehensive description of a limited liability partnership. You will then need to go onto critically assess the advantages and disadvantages of an LLP and compare these advantages and disadvantages with both a traditional unincorporated partnership and a private limited company. It would be helpful for you to provide an appropriate legal description of both an unincorporated partnership and a private limited company, when making the comparison with an LLP. You should support your answer by reference to the relevant statutory provisions coupled with any applicable case law.
INSTRUCTIONS FOR COMPLETION OF THE ASSIGNMENT:
You should present the assignment in the form of an essay of not more than 2500-2750 words. You will be expected to refer to at least one of the recommended textbooks for the Module. Credit will be given where you have clearly shown independent research by reference to other relevant textbooks, internet resources and legal journals/articles – In such event you should provide a detailed bibliography identifying your sources. The bibliography does not form part of the overall word count.
Your assignment must be electronically submitted to Blackboard by 11.59pm on Thursday 15th July 2021. No other method of submission will be accepted. It should be submitted to Blackboard in the Assessment area marked “Resit Assessment 1 – Written Assignment Submission (Due Date: 15th July 2021)”. It must be in a format recognised by Turnitin. You are strongly recommended to complete your assignment in good time for the specified deadline.
ASSESSMENT CRITERIA:
The resit written assignment will be marked out of 100. Your assignment counts towards 60% of the overall mark for the LAW6A4 Module. Please note that unless you have been awarded Exceptional Circumstances, your resit grade may be capped at 40%.
In order to achieve a pass grade, you will be expected to provide a comprehensive analysis of an LLP and the advantages and disadvantages of this business model. You will also be expected to compare this business model with ordinary partnerships and limited companies.
Marks will be given for:
Quality of response to the presented question.
Demonstrating a broad knowledge and general understanding of the main areas covered by the presented question.
Demonstrating awareness and understanding of the specific issues raised by the presented question.
Collection, comparison and synthesising relevant information from different sources.
Presentation of an analytical conclusion in response to the presented question.
Your assignment will be marked according to the threshold expectations above and the marking criteria below. You can use them to evaluate your own work and estimate your grade before you submit.
Marking Criteria Table
Band
Conversionscale for UG Programmes
Descriptors
8
90 – 100
All learning outcomes and task specifications have been achieved to an exceptionally high standard. The work also shows an exceptionally high understanding of the law on limited liability partnerships well beyond Level 6 undergraduate study.
The outcome of the assessment task is presentable in a professional context and extends practicaland/or theoretical knowledge of the applicable legal area. It displays an exceptionally high level ofunderstanding of an LLP and its comparison with other business entities as well as evaluation, insight and analysis on its application. There was an exceptionally high level of criticality and research. Connections are developed both within and beyond the task set.
The work’s organisation, structure and presentation are developed to an exceptionally high standard.
7
80 – 89
All learning outcomes and task specifications have been achieved to an outstanding standard. The work also shows an outstanding understanding of the law on limited liability partnerships beyond Level 6 undergraduate study.
The outcome of the assessment demonstrates an outstanding display of understanding of an LLP and its comparison with other business entities as well as evaluation and analysis of its application. There was an outstanding level of criticality and research. Connections are developed both within and beyondthe task set.
The work’s organisation, structure and presentation are developed to an outstanding standard.
6
70 – 79
All learning outcomes and task specifications have been achieved to high standard. The work also shows a high understanding of the law on limited liability partnerships at Level 6 undergraduate study, and in some instances beyond.
The outcome of the assessment demonstrates an excellent display of understanding of an LLP and its comparison with other business entities as well as evaluation and analysis of its application in general. There was a high standard of criticality and research. Connections are developed both within and beyond the task set.
The work’s organisation, structure and presentation may be developed to an excellent standard.
5
60 – 69
All learning outcomes have been achieved at a good and some to a very good standard. The work also shows a good understanding of the law on limited liability partnerships at Level 6 undergraduate study.
The outcome of the assessment demonstrates a very good level of understanding of an LLP and its comparison with other business entities as well as evaluation and analysis of its application. There was evidence of criticality and research. The majority of relevant connections are established within thetask set, and in some cases reaching beyond.
The work’s organisation, structure and presentation may be developed to a very good standard.
4
50 – 59
Most learning outcomes have been met at a good standard. The work also shows a good understanding of the law on limited liability partnerships at Level 6 undergraduate study.
The outcome of the assessment demonstrates a good understanding of an LLP and its comparison with other business entities and evaluation and analysis of the process of its application in general. There was evidence of some criticality and research. The majority of relevant connections are established.
The work’s organisation, structure and presentation may be appropriately developed.
3
40 – 49
All learning outcomes have been met to a minimum satisfactory standard. The work showed an appropriate understanding of the law on limited liability partnerships at Level 6 undergraduate study.
The outcome of the assessment shows an appropriate understanding of an LLP and its comparison with other business entities coupled with an appropriate understanding of its application. There was evidence of only basic criticality and research.
The outcome of the task shows ability to paraphrase concepts and theories, with limited ability to makeconnections.
The work may be disorganised, and the structure and presentation may be barely adequate.
2
30 – 39
Most learning outcomes have almost been met, whilst the rest have not. There was a lack of understanding of the law on limited liability partnerships in England & Wales which would be expected at Level 6 undergraduate study.
The outcome of the assessment shows a limited understanding of an LLP and its comparison with other business entities and application in general. There was an absence of analysis of the process of litigation. There was an absence of criticality and/or research. There was also a very limited ability to makeconnections.
The work may be disorganised, and the structure and presentation may be barely adequate.
1
11 – 29
The majority of the learning outcomes have not been met. There was a wholesale lack of understanding of the law on limited liability partnerships in England & Wales which would be expected at Level 6 undergraduate study.
The outcome of the assessment shows very limited understanding of the subject area. There was a complete lack of criticality with no supporting research. There was also a very limited ability to make connectionswithin basic ideas in the field, very fragmented.
The work is disorganised, and unstructured. Presentation is barely adequate.
0
0 – 10
None of the learning outcomes have been met. The task has not been properly addressed and shows a complete lack of understanding of the law on limited liability partnerships in England & Wales which would be expected at Level 6 undergraduate study.
The outcome of the assessment shows a lack of insight and also displays no ability to make connectionswithin basic ideas in the field. There is no research and no understanding or analysis of the relevant legal topic.
The work completely lacks organisation and structure. Presentation is completely inadequate.
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