Law of Business Organisations - 4339 Words

Was there dissolution of Smiths? 2. There was clearly no dissolution. The agreement provided that the partnership may only be terminated â€Å"by mutual agreement†. Hence, Morrissey’s unilateral action (resignation) is insufficient to dissolve the partnership: Moss v Elphick. Section 26 of the Partnership Act (â€Å"PA†) is applicable only when the partnership was silent on the duration of the partnership. In this instance, the agreement was for the partnership to enure for the joint lives of the parties (unless terminated by mutual agreement). Section 32(1) (c) is also inapplicable since the parties had indicated that the partnership was to be determined by â€Å"mutual agreement†, hence subjecting it to a contrary intention. Thus there was no†¦show more content†¦18. The test is an objective test and a question of law. (a) â€Å"Business of the kind carried on by the firm† 19. Morrissey’s air-conditioning servicing clearly qualifies as business of the kind carried on by Smiths. Air-conditioning servicing can be considered by many to be the servicing of an electrical appliance and is capable of and commonly falling within the â€Å"general electrician services† of Smiths. (b) Whether the act of the partner falls within the usual nature and (c) manner of the business of the firm 20. Morrissey’s servicing of the air-conditioning falls within the â€Å"usual nature and manner of the business of the firm†. Test (b) refines the preliminary inquiry in (a). As stated in United Bank of Kuwait: In determining whether an act is in the â€Å"usual way† of â€Å"business of the kind carried out by the firm†, it must be considered whether on the facts represented, a reasonably careful and competent person of the same kind as the third party would have concluded that the act appeared usual. 21. Morrissey’s persuasion of Fergie to service the air-conditioning during a routine assignment would be considered â€Å"usual† andShow MoreRelatedLaw Of Business Organisations Essay1535 Words   |  7 PagesLAW302 – Law of Business Organisations Essay​​Jade Chapman Student Number: 4667426 Introduction Corporate legal identity is one of today’s most common issues when dealing with companies. The extent to which the courts will allow the protection of a company’s directors and member under the principal of a separate legal entity varies by case. The term lifting or piercing the corporate veil implies that the limited liability protection of the company’s members and directors is lifted, to the extentRead MoreD1- Evaluate the effectiveness of property law in protecting business organisations1638 Words   |  7 PagesD1- Evaluate the effectiveness of property law in protecting business organisations. 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