This report delves into the intricacies of Australian company law, providing a comparative analysis of various business structures, including sole traders, partnerships, and proprietary companies. It meticulously examines the setup and administrative costs, as well as the administrative burdens associated with each structure. Furthermore, the report contrasts the liabilities of partners with those of individuals involved in proprietary companies under contractual obligations with third parties. A significant portion of the report is dedicated to comparing the duties owed by partners to each other and those owed by directors within companies. The analysis covers aspects such as actions binding partners and directors, liabilities in case of debt, and the implications of contracts entered into by both partners and directors. The report concludes by summarizing the key differences and similarities across these business structures, offering a comprehensive overview of the legal and financial implications for businesses operating in Australia.
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