Business Law

Running head: BUSINESS LAW
Business Law
Name of the Student
Name of the University
Author Note

1
BUSINESS LAW
Table of Contents
Question 1......................................................................................................................2
References......................................................................................................................3
Question 2......................................................................................................................3
References......................................................................................................................3

2
BUSINESS LAW
Question 1
Issue
The issues need to be determined in this cases are:
I. Whether Lucy, Seamus and Koo have a partnership between them;
II. Whether Lucy and Koo shall be held liable to contribute for buying the ride-on
mower;
III. Whether Lucy has breached her obligation under partnership for carrying out her
personal work in the weekend;
IV. Whether Lucy, Seamus and Koo could be identified as partners of LuSeKo by FastCut
for bringing legal action against them;
V. Whether Seamus’s death will affect the partnership business;
VI. How the partnership property could be determined by Lucy and Koo and how the
losses incurred by the partnership could be met by the property of the partnership
business.
Rule
In Australia, the Partnership Act 1963 deals with the matters relating to partnership
for of business. Section 6 of the Partnership Act states that a partnership is a form of business
which involve two or more people who carry on a common business for making profit, and
also include a limited partnership.
Under Section 9 of the Partnership Act, the partners of the partnership firm shall be
bound to each other and they would work as the principal as well as agents for carrying out
the business of the firm. When a partner enters into a contract on behalf of the partnership
firm, all the other partners as well as the partnership firm shall be bound by it. In case, one of
the partners lack the authority to enter into an agreement on behalf of all other partners or
when the other party knows that such partner is not authorised to enter into an agreement on