ATW103 Business Law

Question 1 Ali, Bob and Yan are partners of Tiga Tiga, a textile shop. The partnership was formed two (2) years ago based on the friendship between the partners. The partners are not sure of their rights and duties due to the absence of an agreement between them. Subsequently, Yan wishes to retire from the partnership due to a serious illness. The partners were informed by a third party that if Yan retires, the partnership will be dissolved and the business ceases to operate. a) Explain to the partners their rights and duties as partners in the absence of agreements. (12 marks) b) Explain to the partners how the partnership may be dissolved by a court order. (7 marks) c) Discuss the liability of a retiring partner. CS Scanned with CamScanner (6 marks)Issue: Identify the issue Rule: Sections/ legal principle Analysis: Cases (with facts) compare to the issue Conclusion: Your decision on the issue based on the sections and cases 06:05 10 16 0 06:05 / 10:28