By Ron Harris
Among 1720 and the mid-nineteenth century, the criminal framework of britain remained static, whereas the rustic went via an fiscal and social evolution often called the commercial Revolution. This booklet addresses the plain discrepancy among the constructing economic climate of 1720-1844 and the stagnant criminal framework of commercial association throughout the related interval. The e-book particularly makes a speciality of the methods wherein the legal-economic nexus of the interval gave upward push to the trendy associations of organizing enterprise.
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Extra info for Industrializing English Law: Entrepreneurship and Business Organization, 1720-1844 (Political Economy of Institutions and Decisions)
Example text
In the first structure, sleeping partners were known only to their active partners and were concealed from third parties. Thus, they could not be joined in any action against the partnership, and debts could not be collected from them. The problem in this structure was that sleeping partners had no standing in court or in any other external arena against their active partners or third parties, and had no real guarantee that their names would not be revealed at a most inconvenient moment, subjecting them to full liability.
It also provides the background for understanding the South Sea Bubble and the enactment of the Bubble Act, which are discussed in Chapter 3. The third chapter argues that the motivation for the passage of the Bubble Act was connected mainly to public finance and not to sentiments regarding the joint-stock company, and that it did not operate as a turning point in the development of this form of business organization. Part II covers the period 1720–1810. The chapters are roughly arranged according to sectors and forms of organization.
After the enactment of the Irish Anonymous Partnership Act of 178226 and Napoleon’s widely publicized Code de Commerce of 1807, it made its way to the state of New York in 1822, and from there to other states in the United States. However, the limited partnership was not recognized by common law, either directly or via the mercantile law, and made no inroads into the English legal system itself until the early twentieth century. It was finally introduced into the English system by statute in the Limited Partnership Act (7 Edw.