1.Section 3 of the Partnership Act 1961 defines a partnership as a relationship that exists between several persons who carry on business in common for the purpose of making a profit. Elaborate and support with cases.

2.Discuss whether there is a partnership in the following situations. Give your reasons:

a) KuComel firm runs a retail business on children's clothing. The firm's partners are constantly changing but the number of the partners never exceeds five.

b) Firdaus, Aiman and Akmal are siblings and inherited a two -acre piece of land left by their family. The land was leased to Nancy for RM12,000 per month. The proceeds from the rental were divided between the three of them.

c) Shahira, an accountant at Lye & Associates entered into agreement with her employer Lye whereby Shahira agreed to lend the firm RM30,000. Every month for two years Lye pays Shahira 5% of the firm's net profit.

d) Pamela and Atiqah plan to open a retail business selling women's and children's clothing in Ipoh. Pamela had ordered 300 pieces of children's clothes but failed to pay the price of the clothes. The seller demands payment from Atiqah because she is going to be Pamela's partner.

3.Describe 5 ways in which a partnership may be dissolved.

4.Discuss the advantages of a partnership under the Limited Liability Partnerships Act 2012 and compare with the Partnership Act 1961.