Griffith Business School 2105AFE Business Law Assignment

This document presents a solution to a Business Law assignment focusing on partnership law under the Partnership Act 1891 (Qld). The assignment is divided into two parts. Part A addresses the core issue of potential liabilities between partners and a third party, Loki's Logistics, and the rights of partners against another partner, Chris. It applies relevant sections of the Partnership Act, such as sections 15 and 27, and draws upon case law like Polkinghorne v Holland (1934) and Kilpatrick v Mackay (1878) to determine liabilities and profit-sharing. Part B answers five short-response questions related to limited liability partnerships, including definitions, registration processes, partner liabilities, and operational aspects under Queensland law. The solution provides clear explanations and references to specific sections of the Partnership Act 1891 (Qld) to support its conclusions.

Running head: BUSINESS LAW
BUSINESS LAW
Name of Student
Name of University
Author Note

Running head: BUSINESS LAW
Table of Contents
Part A...............................................................................................................................................3
Issue.............................................................................................................................................3
Law..............................................................................................................................................3
Application..................................................................................................................................3
Conclusion...................................................................................................................................4
Part B...............................................................................................................................................4
Q1................................................................................................................................................4
Q2................................................................................................................................................4
Q3................................................................................................................................................4
Q4................................................................................................................................................5
Q5................................................................................................................................................5

Running head: BUSINESS LAW
Part A
Issue
The primary issue in the current case is whether Luke and Liam has any potential liability with
Loki's Logistics.
The second issue in the case is whether Luke and Liam have any rights against Chris.
Law
As per section 15 of the Partnership Act 1891, “a partnership and its partners are liable
jointly and severally for the negligent act of the firm that caused damage” (slides, 39) as seen in
the case Polkinghorne v Holland (1934).
Under Section 8 of the Partnership Act 1891 if a partner has actual authority, that is,
written oral authority, The Other partners would be bound by the Act of the partner if it has been
done in the usual course of business unless otherwise implied.
As per section 27 of the Partnership Act 1891 (Qld) unless stated otherwise in the
Partnership agreement, the partners should be sharing all the profits and losses of the firm
equally as seen in the case Kilpatrick v Mackay (1878).
Application
Applying the judgment of the case Polkinghorne v Holland (1934) under section 15 of
the Partnership Act 1891it can be seen that both Luke and Liam would be jointly and severally
liable towards Loki’s Logistics for the actions of Chris.

Running head: BUSINESS LAW
Applying the judgement of the case Kilpatrick v Mackay (1878) in the current scenario it
can be held that under section 27 of the Act Luke and Liam would be claim for the profits Chris
made to be shared equally.
Conclusion
Thus in conclusion it can be said that Luke and Liam has potential liability with Loki's
Logistics and have rights to claim equal profit against Chris.
Part B
Q1
a. Section 3 of the Partnership Act 1891 (Qld) defines limited liability partnership.
b. Limited liability partnership can be defined as the partnership business limiting the
liabilities of the partners.
Q2
a. The government of Queensland has the responsibility for keeping the register for all
limited partnerships.
b. Section 78 of the Partnership Act 1891 (Qld) provides that information.
Q3
a. Section 85 of the Partnership Act 1891 (Qld) sets out the liability of a limited partner.
b. A limited partner is only liable for the amount contributed by them in the partnership
business.

Running head: BUSINESS LAW
Q4
a. A limited partner does not run the daily business of the partnership.
b. Under Queensland law, the registered office of a limited liability partnership cannot be
located outside of Queensland.
Q5
a. The name of the form that needs to be completed to register a limited partnership is
Partnership Act Form 1 Application for registration of limited partnership.
b. The registration fee that must be paid when the form is lodged is $150.90.