AUSTRALIAN LAW***

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.

1) 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.