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The new edition of this popular text is an updated, modern account of the law of partnerships in a readily accessible and readable form. A concise study of the law of partnership, this text is suitable for those studying the subject and provides practitioners with a easy to use source of information. The work explains the essential characteristics of the subject, highlighting difficult and developing areas by reference to both established and modern cases and legislation. In addition to UK authorities, of which there are an increasing number at a high level, it also covers recent cases from many parts of the Commonwealth that still use the Partnership Act of 1890. New developments such as the recently introduced limited liability partnership are covered. The author also provides an explanation of the Law Commission's proposals for reforms of partnership law (the first such report for over 100 years). In essence the book explains the essential characteristics of the subject through areas such as formation, regulation and dissolution of partnership and has inciteful commentary that even experienced lawyers find useful.