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Partnerships:
A partnership is defined by s.3(1) of the Partnership Act as "the relation which subsists between persons carrying on a business in common with a view of profit". This is a definition of the relation that exists between the individual persons who are trading as partners, rather than a definition of the apparent entity called a partnership. A partnership is not a body corporate and, being legally non-existent, cannot carry on a business. Section 6 of the Act states that persons who have entered into partnership with one another, are called collectively a firm, and the name under which their business is carried on is called the firm-name.
Committee of Inspection: A committee of inspection is appointed in a compulsory liquidation and in a creditors' voluntary liquidation. It
Recovery of Possession of Goods However below S.15 where two-thirds or more about the hire-purchase price has been paid the owner is such precluded from enforcing the rights a
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Duomo Pty Ltd manufactures engineering equipment and is a leading industry supplier in Australia and New Zealand. The 'Duomo Drill Press' (Duomo) is a very popular product that has
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Issuing shares at a discount: In Ooregum Gold Mining Co of India Ltd v Roper (45) the House of Lords held that it is illegal for a limited company to issue its shares at a dis
Ask questioMembers of Students for Fair Tuition (SFT) decide to protest rising tuition costs at Gigantic State University (GSU) by taking over Dunfee Hall, the location of GSU pres
Contracts of Guarantee There the Law of Contract Act, 1961, S.3 (1) provides as follow: Actually "No suit shall be brought whereby to charge the defendant upon any type of
Question: State whether the following statements are TRUE, FALSE or UNCERTAIN. Briefly (two or three paragraphs) give reasons for your answer. (a) There are no market fail
Frantic Fast Foods had earnings after taxes of $420,000 in 2012 with 309,000 shares outstanding. On January 1, 2013, the firm issued 20,000 new shares. Because of the proceeds from
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