Commercial Law- Australia | Letter

Running head: COMMERCIAL LAW- AUSTRALIA
Commercial Law- Australia
Name of the Student
Name of the University
Author Note

COMMERCIAL LAW- AUSTRALIA1
To,
The Clients
Australia
Date:
Subject: Advice for the best structure to buy a College in Australia
Dear Sunny and Michael,
We have discussed in our last meeting over the concern for the appropriate legal and
commercial advice for buying a business. It is an excellent idea that you both initiated to buy
a college in Australia, which value is approx. Million dollars. However, as a startup business,
both have to understand regarding the Australian legislations as well as a basic structure that
need to be followed in the whole process. Through this letter, it will be possible to state some
advice that needs to be fulfilled in context with buying a business together.
Structure: Four basic structure is widely followed up in Australia that is Sole Trader,
Partnership, Company and Trust. As both are interested in buying and running this business
together, so there is the existence of Partnership, and it is most appropriate to follow up the
Partnership Business Structure only. Three types of partnerships are General, Limited and
Incorporated Limited Partnerships. General Partnership will be preferable in this business, as
it will allow both to be equally responsible for managing the business with equal liabilities,