(Elena and Natalie were interested in baking cakes and selling them. They formed a partnership called- Yummy for Tummy Cakes and served cakes and biscuits for the locals in their housing area. As they were lacking capital for their business, they requested Elenas cousin, Lina to invest in this business. Lina agreed and gave them RM30000 on the basis that she gets RM3000 per 3 months as a return for the investment. Another condition is that Elena and Natalie should update Lina on the partnerships transactions annually. However, Elena and Natalie failed to give Lina the returns and also did not update Lina on their partnerships accounts.)

1 (Does a partnership exist between Elena, Natalie, and Lina? Discuss and support your answer with relevant principles of law.)

2. (If a partnership exists between Elena, Natalie and Lina, discuss the ways in which a partnership can be dissolved.)

3. (Analyse the characteristics of partnership with appropriate examples and case laws.)