Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ent A Part 1 - SP 5 2020 Protected View Saved View nces Mailings Review Help Enable Editing 3. Unless you need to edit, it's

image text in transcribed
image text in transcribed
ent A Part 1 - SP 5 2020 Protected View Saved View nces Mailings Review Help Enable Editing 3. Unless you need to edit, it's safer to stay in Protected View. BUSINESS LAW-LAWS 1018 ASSIGNMENT - PARTA DUE 6 SEPTEMBER 2020 11.00pm (via learnonline site) PLEASE REFER TO THE COURSE OUTLINE FOR DETAILS ON THE ASSESSMENT PARTA NOTE: WORD UIMIT: 600 WORDS There is no leeway on the word count for this assessment piece...penalty applies immediately. The word count does not include headings or references. PENALTIES FOR EXCEEDING WORD LIMIT IS 10 MARKS PER 100 WORDS OVER THE WORD COUNT PLEASE ENSURE YOU USE THE TEMPLATE LINKED ON THE SUBJECT SITE - THIS INCLUDES A COVER SHEET AND A MARKING SHEET Harry, Liam and Zayn are members of a Wine Tasting Club. They became best friends due to their mutual love of wine. After many years of only being wine tasters, they have decided to become wine makers. Each one contributed 1/3 of their own money to purchase 10 acres of land in the Adelaide Hills. After two years, they finally produce their first batch of wine. They decide to bottle and sell their wine in bottle shops. Also, they build and operate a cellar door wherein customers can purchase wine and cheese to enjoy at the vineyard in the Adelaide Hills. They call the cellar door "One Direction". The have assigned themselves different duties at their vineyard. Zayn makes the wine. Harry is responsible for preparing all food ordered by the customers. Liam is responsible for running the business, ordering supplies and tending the wine bar. They hold a meeting, and all decide to spend some money refurbishing the cellar door with new tables, chairs and lighting. When they started the winery, they dealt with Niall who gave them a great deal on the original furniture at his business Best Restaurant Buys (BRB). Since then, Harry, Liam and Zayn have purchased other items from BRB. The purchases have included track lighting.cheese boards, cutlery and patio furniture. nent A Part 1 - SP 5 2020 - Protected View - Saved to this PC View ences Review Mailings Help Enable Editin s. Unless you need to edit, it's safer to stay in Protected View. On this occasion, Harry and Zayn visit BRB. They have all agreed on a maximum dollar amount to be spent on the refurbishments. They choose a particular set of tables and chairs and order the required number. Following this purchase, Harry leaves town for his annual, month long holiday. Meanwhile, when Zayn calls into Best Restaurant Buys the following day, he notices some chairs were upholstered in leather instead of the vinyl which he and Harry had chosen. This mistake raises the cost of the chairs to more than five times the agreed amount. Even though the cost is well over the agreed amount, Zayn changes the order and purchases these for the cellar door. Zayn thinks they would give the cellar a much more 'up-market look. However, Zayn does not inform Liam and thinks he should not bother Harry on his holiday. Harry returns from his holiday on the same day the chairs are delivered. He and Liam see the amount owing for the new furniture and they are furious with Zayn. Harry and Liam claim that Zayn had no authority to change the order and will have to pay the extra amount himself. Liam adds that as he had nothing to do with the choice of chairs, he is not liable. With business being a bit slow, and with the other refurbishment costs, there are not enough funds to pay for the extra amount owing on the chairs. Zayn argues the furniture is for the partnership and, in any case, he now has no money. Zayn and his wife Gigi were in the process of separating and Zayn reveals that Gigi has taken all their money from their bank accounts. Best Restaurant Buys has threatened to sue all three if payment is not made immediately. Using the Partnership Act 1891 (SA) and relevant cases, discuss the relevant legal issues. Is there a partnership relationship? If so, explain who is liable for the debt. ent A Part 1 - SP 5 2020 Protected View Saved View nces Mailings Review Help Enable Editing 3. Unless you need to edit, it's safer to stay in Protected View. BUSINESS LAW-LAWS 1018 ASSIGNMENT - PARTA DUE 6 SEPTEMBER 2020 11.00pm (via learnonline site) PLEASE REFER TO THE COURSE OUTLINE FOR DETAILS ON THE ASSESSMENT PARTA NOTE: WORD UIMIT: 600 WORDS There is no leeway on the word count for this assessment piece...penalty applies immediately. The word count does not include headings or references. PENALTIES FOR EXCEEDING WORD LIMIT IS 10 MARKS PER 100 WORDS OVER THE WORD COUNT PLEASE ENSURE YOU USE THE TEMPLATE LINKED ON THE SUBJECT SITE - THIS INCLUDES A COVER SHEET AND A MARKING SHEET Harry, Liam and Zayn are members of a Wine Tasting Club. They became best friends due to their mutual love of wine. After many years of only being wine tasters, they have decided to become wine makers. Each one contributed 1/3 of their own money to purchase 10 acres of land in the Adelaide Hills. After two years, they finally produce their first batch of wine. They decide to bottle and sell their wine in bottle shops. Also, they build and operate a cellar door wherein customers can purchase wine and cheese to enjoy at the vineyard in the Adelaide Hills. They call the cellar door "One Direction". The have assigned themselves different duties at their vineyard. Zayn makes the wine. Harry is responsible for preparing all food ordered by the customers. Liam is responsible for running the business, ordering supplies and tending the wine bar. They hold a meeting, and all decide to spend some money refurbishing the cellar door with new tables, chairs and lighting. When they started the winery, they dealt with Niall who gave them a great deal on the original furniture at his business Best Restaurant Buys (BRB). Since then, Harry, Liam and Zayn have purchased other items from BRB. The purchases have included track lighting.cheese boards, cutlery and patio furniture. nent A Part 1 - SP 5 2020 - Protected View - Saved to this PC View ences Review Mailings Help Enable Editin s. Unless you need to edit, it's safer to stay in Protected View. On this occasion, Harry and Zayn visit BRB. They have all agreed on a maximum dollar amount to be spent on the refurbishments. They choose a particular set of tables and chairs and order the required number. Following this purchase, Harry leaves town for his annual, month long holiday. Meanwhile, when Zayn calls into Best Restaurant Buys the following day, he notices some chairs were upholstered in leather instead of the vinyl which he and Harry had chosen. This mistake raises the cost of the chairs to more than five times the agreed amount. Even though the cost is well over the agreed amount, Zayn changes the order and purchases these for the cellar door. Zayn thinks they would give the cellar a much more 'up-market look. However, Zayn does not inform Liam and thinks he should not bother Harry on his holiday. Harry returns from his holiday on the same day the chairs are delivered. He and Liam see the amount owing for the new furniture and they are furious with Zayn. Harry and Liam claim that Zayn had no authority to change the order and will have to pay the extra amount himself. Liam adds that as he had nothing to do with the choice of chairs, he is not liable. With business being a bit slow, and with the other refurbishment costs, there are not enough funds to pay for the extra amount owing on the chairs. Zayn argues the furniture is for the partnership and, in any case, he now has no money. Zayn and his wife Gigi were in the process of separating and Zayn reveals that Gigi has taken all their money from their bank accounts. Best Restaurant Buys has threatened to sue all three if payment is not made immediately. Using the Partnership Act 1891 (SA) and relevant cases, discuss the relevant legal issues. Is there a partnership relationship? If so, explain who is liable for the debt

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Advanced Accounting

Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik

10th edition

0-07-794127-6, 978-0-07-79412, 978-0077431808

Students also viewed these Accounting questions