Partnership under the partnership act 1891

Assignment Help Business Law and Ethics

Reference no: EM13933836

Joe is a taxi driver. He reaches an agreement with Ann, who owns a taxi, on these terms:-

At times to be agreed, Joe can pick up the taxi from Ann, who will deliver it with a tank full of fuel, in a clean condition and in proper repair.
Joe can then drive the taxi for profit-making purposes for a maximum 12-hour shift, charging standard taxi rates, and using the radio system which Ann pays for at her own expense.
During the shift, Joe will be entitled to buy petrol for the taxi out of the takings from the taxi fares.
Joe must return the taxi to Ann no later than the 12-hour limit, in a clean condition and with the fuel tank full.
The balance of Joe's takings (after fuel costs) will be shared between Joe and Ann 50/50.
Ann will be responsible to pay for all other expenses of running the taxi, including taxi licence renewals, repairs and maintenance, insurances, etc.

Question 1: Provide a legal argument for why this is NOT a partnership under the Partnership Act 1891 (Qld).

Question 2: Apply the "three certainties" to demonstrate why this agreement does NOT create a trust.

Reference no: EM13933836

Questions Cloud

Imposing a legal minimum price : If you were the Minister for Agriculture in the Western Australian Government, and the Grain Industry Association of WA asked you to support their members by imposing a legal minimum price, would you support or reject their request. Use an economi..

Ompare the effectiveness of punishment-based interventions : Compare the effectiveness of punishment-based interventions with reinforcement-based interventions for modifying behavior.

Opinion to the state ethics board : What ethics rules did the attorney violate? Would it make a difference if the attorney's writing problems were attributable to him battling cancer during this time?

Determine the critical value of h : The water has free access to the underside as well as the right side of the gate. When the water level rises above a certain value of h, the gate will open. Determine the critical value of h. Neglect the mass of the gate.

Partnership under the partnership act 1891 : Question 1: Provide a legal argument for why this is NOT a partnership under the Partnership Act 1891 (Qld). Question 2: Apply the "three certainties" to demonstrate why this agreement does NOT create a trust.

Where would the interest expense be shown on the statement : Where would the interest expense be shown on the statement of cash flows?

Extensive knowledge of the sydney property market : After two weeks preliminary negotiations, Green Ltd, impressed by Tait's extensive knowledge of the Sydney property market and his business acumen, indicated that it was unwilling to deal with Publico, but it would deal with Tait personally.

Discuss profitability of a company : Discuss profitability of a company and its impact on investor performance indicators.

Determine the expression for the density : Determine the expression for the density ps of the sphere - A homogeneous solid sphere of radius r is resting on the bottom of a tank containing a liquid of density pl, which is greater than the density ps of the sphere

User Account

All Pages