QUESTION $4$ FOR GROUPS $6$ & $9$

Tomboy and Razak have achieved significant success in running their small business of selling phone gadgets for the past ten years. Their business has been steadily growing, and they have reached a point where they are considering expanding their services and establishing agencies in the upcountry. However, in the entire period of their business, they were not operating under partnership as each one of them had his goods and would accumulate profits although they shared the officer. They are both layperson in business law and the requirements of business formation. They have approached you for advice on whether they should establish a partnership or joint venture. Briefly provide an opinion on the legal requirement for the establishment of both partnership and joint venture and how tax liabilities will be imposed.

QUESTION $5$ FOR GROUP $8$&$10$

Rege Company Limited has been a very successful company in Tanzania in innovative food nutrients related products, in the years $2022/2023$ the audited financial reports revealed that the company made a profit of $500$ billion which is twice the profit that was obtained in $2021/2022.$ However, in $2024$ things were not in favour of Rege Company Limited and rumors circulated about the company's financial inability to settle the outstanding liabilities. It was later discovered that Rege Company Limited is a subsidiary of Taifa Letu Company and just to learn that Taif a Letu Company is involved in significant loan liabilities from Ramolo Bank. Despite being a separate legal entity, Taifa Letu Company appears to rely heavily on Rege Company Limited for financial support. It is further discovered that Rege Company Limited holds an influential position within Taif a

$3$

Letu company, blurring the lines line of separation between the two. Due to financial difficulties, Ramolo Bank opted to pursue legal action against Rege Company Limited arguing that the cooperate veil should be lifted due to the intervened nature of the two entities. The argument from the bank is that Rege Company Limited has been using Taifa Letu Company as a mere instrument to avoid her loan obligations. Rege Company Limited vehemently disputes all claims and insists that Taifa Letu Company operates independently. Being a renowned expert in business law prepared arguments in favour of the bank while demonstrating key factors that ought to be taken on board while lifting the corporate veil. On the other hand, provide key arguments in favour of Rege Company Limited.