Ernest Gulliver, Francis Nebber, Gita Napur and Kevin Franklin have just formed their dream company.Pickin Ltd is their company name and they are now seeking advice on the purchase of business property.They would like your help with regards to the way their legal and equitable interest in that property should be held.Each individual has a spouse/partner and do plan to have children in the future.

Please advise them on how they should hold both the legal and equitable interest in the property, explaining what would be in all of their interests given their current circumstances.

Please note, actual explanations and application of the legal principles are required.15 marks