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QUESTION 1. Dilara and Aysha have inherited a winery fr

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Added on  2019-09-21

QUESTION 1. Dilara and Aysha have inherited a winery fr

   Added on 2019-09-21

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QUESTION 1Dilara and Aysha have inherited a winery from their Great Grandfather Ankit, called “Ankita”. Dilara and Aysha have continued to run the winery as a going concern. They share profits equally. As the years progressed, it had become apparent that Dilara and Aysha did not have enough working capital to keep the winery going. In addition, given Great Grandfaher Ankit was rather old and liked “old things”, the winery became run down, and large amounts of money need to be spent to restore the winery.Dilara and Aysha are approached by Polat, a well-known French winemaker, who wishes to buy part of the Ankita Winery and work there as a chief winemaker. Dilara and Aysha are excited as both Polat’s money and expertise are desperately needed at Ankita. Dilara and Aysha visit your office and ask your legal advice as to: a)what type of business organisation are Aysha and Dilara currently operating; and [5 marks]b)whether their current business structure is the most suitable vehicle for selling part of the Brothersglen Winery to Polat or whether they should consider another form of business structure, and, if so, which one? [10 marks][Total Marks: 15 Marks]
QUESTION 1. Dilara and Aysha have inherited a winery fr_1
QUESTION 2Leo purchased two shares in Thomas The Tank Engine Pty Ltd for $500,000 in total. Thomas The Tank Engine Pty Ltd makes and builds trains which they manufacture and sell toretail stores. Leo, now a non-executive director of Thomas The Tank Engine Pty Ltd, is unhappy with the state of affairs of the company. The following occurred:Thomas The Tank Engine Pty Ltd revenue has increased 300%Leo has received no dividends to date and Ruby and Amanda, the two executive directors of Thomas The Tank Engine Pty Ltd, have decided to pay no dividends this year. Ruby and Amanda have voted themselves a large pay rise and bonus. Ruby and Amanda have arrangedfor Thomas The Tank Engine Pty Ltd to lease two expensive cars for their exclusive use. Leoattends his first directors’ meeting and questions the dividend policy and asks that he objection to the lease of the cars be recorded.Amanda and Ruby decide to remove Leo from the board. They hold a members’ meeting andremove Leo from the board. Advise Leo as to his rights as a shareholder/member.[TOTAL MARKS: 10 Marks]
QUESTION 1. Dilara and Aysha have inherited a winery fr_2

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