The Partnership Act, 1891 Issue: Who is liable to pay the debt for the furniture? Law: Section 5(2), section 9 (1) and 6 (1) of Partnership Act of 1891, is being applicable to the present case. Application: All the general partners will equally be liable for all partners in the firm. However in the present case, there was an expressed authority granted verbally between Ben and Adam in Best Restaurant Buys, where a maximum dollar li…
Business and Corporate Laws Question 1 Part A: Issue: Whether Tina is legally bound to buy Jeff’s business as a result of signing the heads of the agreement. Rule: The existence of an agreement is analyzed through the rules of offer and acceptance. As the offer was communicated to the buyer and she accepted it before it is withdrawn, she can be made liable. Application: As there is a right on part of the buyer to make th…
Assessment 2 Case study analysis Question 1 Issue: in the present question, the issue arises if Tina can be considered as being bound by the head of agreement that has been created with Jeff. Rule: for the purpose of deciding the issue mentioned above, it needs to be considered if the heads of agreement created between the parties can be treated as being enforceable by the law. Some of the other names for the heads of agreement includes …
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