please help me answer the following in the format in image 2

Ben, Harry and William are running a successful retail business called Tapestry Pretty'. They have a written agreement which notes that the parties are not in a partnership. They are running a joint venture and they will be sharing the profit of the business equally. The agreement also notes that Ben and Harry will be in charge of managing the business. William will be in charge of financing the business. He will also have the capacity to access the books of the company at will. All the parties agree that William's identity is not to be disclosed to the public. Furthermore, the agreement states that the joint venturers (Ben, Harry and William) cannot compete between each other. a) Are the parties in a joint venture? (6 marks) b) Based on the facts of Question 1, can Ben open a competing business structure? (4 marks) Format: Exemplar: The exemplar for the format of the answers to the problem questions is as follows: Issue: What is the question that is being asked? You need to identify the correct issue/s. If there is more than one issue in a question, each issue needs to be responded to separately. Law: Mention relevant cases and sections and explain them. For sections, you need to summarise the section's content. You do not copy the section word for word. For cases, you do not need to mention the facts of the case. You need to mention the judgment. It is important to have a clear section of the law. If the student only mentions the name of the case or the number of the section without any explanation, no mark will be allocated to the law part. Application: You will apply the law to the facts of the problem. You need to use the facts of the problem and check if they fulfil the requirements of the law. Conclusion: What is the outcome? This part is only one line and is the answer to the question raised in the issue