Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

a) Mark and Anthony agreed to set up a refrigerator repair service shop as a partnership. They had a partnership agreement drawn up which set

a) Mark and Anthony agreed to set up a refrigerator repair service shop as a partnership. They had a partnership agreement drawn up which set out their duties and responsibilities with respect to the business. One of the terms of the agreement stipulated that neither party would be responsible for business debts or liability incurred without the express consent of the other party. Unknown to Mark, Anthony later set up a business selling refrigerators with the assistance of a friend. Anthony did not inform Mark about this business which brought in considerable profits to Anthony. Anthony maintains that he has not done anything wrong by hiding this information from Mark as the two businesses were not in competition with each other. Anthony had also ordered refrigerator parts on behalf of the partnership from a supplier unknown to Mark without Mark's knowledge or consent. Advise Mark: i) Whether he has rights against Anthony with respect to the business he has set up selling refrigerators. ii) Whether he would be liable to the supplier of the refrigerator parts ordered by Anthony. b) Jack Chan set up an estate agency business. Since he had to go to Hong Kong to attend to some family matters, Jack Chan engaged Simon to take care of the business while was away. Before leaving Jack Chan informed Simon that he was in the process of negotiating for the price for the sale of a piece of land in Klang to Jeffrey. Jack Chan expressly instructed Simon to continue the negotiation and not to sell the land for anything below RM800,000. Unknown to Jack Chan, Jeffrey is Simon's brother in law and Simon sold the land to Jeffrey at a bargain price of RM500,000. Following the sale Jeffrey gave Simon RM20,000 as commission for having secured a very good deal for him. Given the above events, advise Jack Chan on his legal rights

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Law Of Contract

Authors: Paul Richards

14th Edition

1292251484, 978-1292251486

More Books

Students also viewed these Law questions