Partnership Law and Liability
Added on 2020-03-16
13 Pages2093 Words105 Views
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Running head: LAW OF BUSINESS ORGANIZATIONLaw of Business OrganizationName of the StudentName of the UniversityAuthor Note
1LAW OF BUSINESS ORGANIZATIONTable of ContentsIssue.................................................................................................................................................3Rules................................................................................................................................................3Application......................................................................................................................................3Conclusion.......................................................................................................................................4Issue.................................................................................................................................................4Rules................................................................................................................................................4Application......................................................................................................................................5Conclusion.......................................................................................................................................5Issue.................................................................................................................................................5Rules................................................................................................................................................6Application......................................................................................................................................6Conclusion.......................................................................................................................................6Issue.................................................................................................................................................7Rules................................................................................................................................................7Application......................................................................................................................................7Conclusion.......................................................................................................................................8Issue.................................................................................................................................................8Rules................................................................................................................................................8Application......................................................................................................................................9
2LAW OF BUSINESS ORGANIZATIONConclusion.......................................................................................................................................9Issue.................................................................................................................................................9Rules................................................................................................................................................9Application....................................................................................................................................10Conclusion.....................................................................................................................................10Reference.......................................................................................................................................11
3LAW OF BUSINESS ORGANIZATIONA.IssueThe issue is whether a partnership is exists between Shaun and Craig? Rules The partnership will only establish when there is an intention to carrying a businessbetween two or more than two persons. In the cases of Green v Beesley (1835) and Smith vAnderson (1880) it has been found that a partnership has been exist when two persons or morethan two persons has together contributed in a business jointly for the a limited time and make acontract for running a business. The section 9, 10 11 of the Partnership Act 1963 of Australia hasbeen defined the relations of partners where they must bound to their common business and mustact behalf of the partners and the rights of the partner to use the credit of firms for the privatepurposes in the limited partnership. In the partnership there should be a legal entity for creatingsuch partnership (Coffee Jr, Sale and Henderson 2015). Application The basic elements of the partnership are:A valid agreement should be form between the partners.The partners should have intention to carry a business in common intention where asingle or isolated transaction could be carried. When the partners are carrying a business therefore they will carry a common businesswhere they have mutual rights, agency, interest and other obligation related to thepartnership business.
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