Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask English Expert

On 1/1/2014, Adriana , Mary and Amy agreed to incorporate a partnership known as "AMA" to manage their business of selling fruits, vegetables and other organic stuffs under the label "Segar Sentiasa". They agreed to inject equal capital of RM10,000 from each partner, and in return everyone shall be entitled to equal profit sharing throughout the business.

Being the daughter of a famous millionaire, Adriana proposed for the firm to rent one of her father's shop buildings at Damansara for a mere annual payment of RM5,000. Adriana encouraged all the partners to agree to the suggestion because the low rental rate will protect the firm from unnecessary liability in the future. Considering this as a very good proposal, all partners agreed, and they subsequently executed the Tenancy Agreement on 1/2/2014.

To ensure the firm's products meet consumer needs, Mary went to meet Prof. Ser Ba Tau at UPM for a detailed research information on the nutrition contained in organic products. Prof Ser Ba Tau agreed to sell his own research outcome (which contains some of new patent in certain local vegetables and fruits claimed to be "unknown vitamins") for the price of RM80,000. Since the professor's explanation was so persuasive, Mary was convinced to purchase the patent. On 28/2/2014, Mary paid RM40, 000 to Prof Ser Ba Tau and promised to pay the remaining balance in 3 months.

Meanwhile, Amy has been entrusted by the other partners to do the marketing and sales for "AMA" due to her talent in marketing skills. Throughout her various contacts with many people, Amy met Zack who represented himself as the Director of TNB Berhad. To her surprise, Zack proposed "AMA" to execute a contract to allow TNB Berhad to install one electrical wiring station in their building, and in return AMA will receive RM2,000.00 per month. Excited with the offer, on 25/3/2014, Amy executed the contract on behalf of the firm without informing the other partners.

On 3/4/2014, Adriana was surprised when she saw people coming to the firm's building to install the electrical wiring station. Adriana confronted Amy about this and argued that Amy's single decision over the matter is not acceptable for the firm's benefit. It turned out that, the electrical station was not installed by TNB Berhad but BNB Sdn Bhd, a small wiring company. Amy did not realise that earlier because she did not peruse the content of the contract which clearly states that the party to the contract is BNB Sdn Bhd (not TNB Berhad as claimed by Zack), with nominal gratuity payment of RM500.00 per month.

AMA firm is now suffering a great loss and cannot sustain more liability in the future. Adriana proposed for the firm to be dissolved. However, AMA suddenly received a demand letter from Prof Ser Ba Tau claiming the balance of RM40,000.00 for the sale and purchase of his pattern.

Adriana is upset with the situation. She has come to you to resolve the above complication.

Explain to Adriana all arising legal issues with reference to the Partnership Act 1961. Justify your answer with related cases

English, Academics

  • Category:- English
  • Reference No.:- M91579266
  • Price:- $10

Priced at Now at $10, Verified Solution

Have any Question?


Related Questions in English

Question blog project 1 my favorite films and genre

Question: Blog Project #1 "My Favorite Films and Genre Conventions" Part 1: Blog Post (media image with target 250 words) -- DUE BY 11:59 PM (SD TIME) SUNDAY, SEPTEMBER 30th Objective: Your objective with this Blog proje ...

Reportread the case study and develop your it support

Report Read the case study and develop your IT support strategy. MedTec Limited (MTL), a small local software company in Greenlane selling medical software to medical clinics, is planning to expand their store next year ...

This module review assignment requires you to answer

This Module Review assignment requires you to answer complex questions that are related to the topics presented in the module readings and have been designed to develop your critical thinking skills. Use the course textb ...

Question commitment is very important in every work we do

Question: Commitment is very important in every work we do. If we commit to something that we will do, we must fulfill that commitment. Usually, we make commitment to the tasks to let others know that we will complete th ...

Assignment - argumentative essaymany businesses and

ASSIGNMENT - Argumentative Essay Many businesses and organisations are shifting away from traditional, autocratic and hierarchical modes of leadership towards models which focus on teamwork and community. Servant Leaders ...

Discussfor this assignment research a company large or

Discuss For this assignment, research a company, large or small, that has taken advantage of the recent technological advances developed in information systems to grow the E-commerce-side of the business. In what ways ha ...

Assignment population and consumptionyou should read the

Assignment : Population and Consumption You should read the introduction to Chapter 11, and see Bill McKibben: "A Special Moment in History" for many facts about population and consumption. Textbook: Louis Pojman and Pau ...

Question for this assignment you will research and analyze

Question: For this assignment, you will research and analyze a communication theory. Your paper should be at least 1200 words, use at least four authoritative sources of which at least two are peer-reviewed journal artic ...

Rationalization consider frosts the road not taken a

Rationalization. Consider Frost's "The Road Not Taken." A common (mis)interpretation of the poem is that it's about taking the nontraditional path. However, it seems to be more about a poem about rationalizing one's acti ...

Discussion your initial discussion thread is due on day 3

Discussion: Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your r ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As