Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1) Alex, Ramesh and Eddie are partners in a firm named Maju Jaya Printing which supplies paper and stationery products to school and offices. A
1) Alex, Ramesh and Eddie are partners in a firm named Maju Jaya Printing which supplies paper and stationery products to school and offices. A clause in the partnership agreement clearly states: "No partner shall enter into contracts worth more than RM500,000 without the consent of all other partners." On April 2021, Eddie bought 50 Xerox machines and 50,000 rims of papers worth RM 550,000 from GoodShop Sdn. Bhd. He did not inform the other partners of this transaction. GoodShop Sdn. Bhd. is now demanding payment from Maju Jaya Printing. Alex and Ramesh want to know if Maju Jaya Printing is liable to pay for the purchases made. With reference to the Partnership Act 1961 and decided cases, advise Alex and Ramesh. 20 marks
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started