Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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

Contract Law

Authors: Ewan McKendrick

14th Edition

1352012065, 978-1352012064

More Books

Students also viewed these Law questions

Question

Describe the factors influencing of performance appraisal.

Answered: 1 week ago

Question

What does this look like?

Answered: 1 week ago