1. Mr. Millionaire and his wife wish to start a business in New Zealand and have been told that company structure is now used by most businesses rather than partnership.

1. You are required to advise Mr. Millionaire on the legal reasons businessmen favours company incorporated under the Companies Act 1993 over partnerships as their business structures.
2. In addition please include in your advice a brief explanation on the incorporation/set-up process of those business structures.

2.Required / ILAC Topic (Learning Outcome Two)

You are required to read the judgment by Justice McGregor in the case South Pacific Airlines of New Zealand Ltd. v Registrar of Companies - [1964] NZLR 1 and identify the ISSUE(S), LAW, APPLICATION and CONCLUSION using ILAC format.