1. Partnership Law in Australia
The statutory definition of a partnership is " the relation that exists between persons carrying on a business in common with a view to profit" There are three essential elements of a partnership. To determine if a partnership relationship exists the prima facie rules are found within the Act: 1. there must be a carrying on of a business; 2. the business must be carried on in common; and 3. the business must be carried on with a view to profit. ... The scope of what may not be a business, in the partnership sense or otherwise, is expanded upon by common law. ... At common law indiv...
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- Grade Level: High School