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1) Hermione decided to purchase a washing machine, an air fryer and an oven from Bagus Eletric shop. She applied for financial assistance from Bank
1) Hermione decided to purchase a washing machine, an air fryer and an oven from Bagus Eletric shop. She applied for financial assistance from Bank Kenari. She was asked to sign three separate aggrement but all the three aggrement did not state the number of instalment to be paid by the hirer, the time for the payment of each instalment and the description of the good. Apart from that, Hermione realized that there was a mistake in the amount of the purchase price in the aggrement. When Hermione asked the bank officer about the missing information and mistake in the document, Hermione was told to sign the hire purchase agreement first before the amendment were made and that the missing information will be filled in later. Two month have passed since she signed the aggrement, but she has not received any copy of the hire purchase aggrement from Bank Kenari. Hermione comes to see you and wanted to know whether the hire purchase agreement that she signed with Bank Kenari were valid. Advise Hermione. (20m) Question 2) a) explain the different between a patnership and a company in terms of registration, formation and liability respecrively. (10m) b) Ron, Harry and Ginny decided to form a patnership. Ron and Harry agreed to form a patnership business to sell cakes but this idea was opposed by Ginny who wish to open a boutique. During the discussion, among the agreed term is one whick excludes Ginny from sharing any profit. They also agreed to hire Draco to manage their business. Besides, Draco will be given some of the profits according to his performance. With references to the relevant provisions of the patnership Act 1961, discuss whether a patnership exists between the parties
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