Partnership Act 1958, By using the Partnership Act 1958

Partnership Act 1958

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Reference no: EM134038322

Question

By using the Partnership Act 1958 (Victoria), Australia and by referring to Sections of 5 and 6 determining partnership and its characteristics, please let me know whether Ravi and Amelia are partners in this case.

"Ravi and Amelia are friends who share a house. They sell cold drinks and ice-creams which they make from a food truck to people at the local beaches held around Port Phillip Bay over summer. They used a loan Ravi obtained under his name from the bank to buy the food truck and other necessary equipment and get council permission and permits. Ravi was unable to repay the loan because even though sales were very good, Ravi spent a lot of money on clothes. hair products, travel and restaurants. He also has few other savings. The bank now wants Amelia to repay the loan. Advise whether Amelia is liable for the debt?"

Reference no: EM134038322

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