Answer problem question following the ILAC method of answering legal problem questions.

Question 1: Advise the parties whether a partnership exist between them in the following situations: a) In June 2020, Alice and Bob launched an e-commerce business to sell healthy food recipes. Alice was the content creator and Bob provided his time and skills to develop the website. They approached their wealthy friend Oscar to contribute to the business and Oscar decided to pay $50,000. Oscar was a financial analyst in a public listed company and was not involved in the day-to-day operation of the business. However, he advised Alice and Bob to consult him before making any management decisions and send him the books of account for audit purposes. Oscar wanted to double his investment within a year. There was no written agreement between Alice, Bob, and Oscar. (2.5 marks)