this is business law

Question 5 (30 marks) (Your answer should be with maximum 600 words for answering both parts in this question.)

a) Kelvin, Lily, Melody, Nathan and Otto decided to form a business enterprise which trades 3D printers. They entered into an oral agreement under which Kelvin HK$5,000,000 cash on the understanding that at the end of four least HK$700,000. Lily will allow her motor van will contribute years he will be repaid at to be used for the delivery of the printers sold to customers. Nathan will contribute electronic products and printers manufactured by his fathers factory as capital in the business enterprise and Nathan will provide after-sale services to repair sold printers to customers. Melody will use her financial skill and expertise in business management and administration. Otto will responsible for finding customers for the business.

Explain whether Kelvin, Lily, Melody, Nathan and Otto formed a valid partnership. (20 marks)

b) Elon, Yuki and Carson are the directors of Ally Hardware Co. Ltd. Elon is the managing director. Carson is husband of Yuki. Yuki has been asked by Elon to buy 500 printers for Ally Hardware Co. Ltd. Unknown the other directors,

Yuki runs her own company that sells printers and she gave to the Ally Hardware Co. Ltd. expensive contract to it. Yuki did not mention this to the other directors of Ally Hardware Co. Ltd. and she earned secret personal profit HK$200,000.

Carson is busy with his job as an airline pilot and has failed to attend any directors meetings for the l ast two years. He told Elon and Yuki that he is happy to agree with whatever decisions they make with regard to the business. Three months ago, Carson forgot to renew the insurance over the companys premises. Last week, there was a fire which destroyed t he company premises and the company suffered HK$300,000 property loss without insurance compensation cover. Carson received huge directors' fees (HK$100,000) each month. Explain whether Yuki and Carson breached the director's duties.