Question
AUSTRALIAN COMMERCIAL LAW QUESTION: Isabella, Henrietta and May have owned and operated a profitable Spanish restaurant for four years. They never bothered with any paperwork,
AUSTRALIAN COMMERCIAL LAW QUESTION:
Isabella, Henrietta and May have owned and operated a profitable Spanish restaurant for four
years. They never bothered with any paperwork, instead agreeing to put equal money into
the business, to share the profits equally, and to share the responsibilities of running and
management of the business as follows:
Isabella is responsible for the human resources including employing staff and setting up the weekly roster; Henrietta has always been responsible for ordering all of the goods and items required for the day-to-day operation of the business; May has always been responsible for the financial operations of the business; All three of them work in the restaurant during the normal business hours.
Under what type of business structure are, Isabella, Henrietta and May running the business?
Give reasons for your answer; in particular support your answer by citing relevant cases and statutes.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started