JUNIQ • CORPORATE LAW

Chapter 1 — Business Forms, Partnerships and the Regulatory Framework

Learning rule: attempt first. The page gives diagnostic feedback without immediately showing the complete answer. Full teaching answers are kept on a separate page so you can reason independently before checking.

FAQ practice

FAQ 1. Is an ordinary partnership a separate legal person?

FAQ 2. What is the cleanest sequence for analysing a partner’s contract with an outsider?

FAQ 3. Are all partnership debts automatically joint and several?

FAQ 4. Why do Corporate Law students study partnerships before companies?

FAQ 5. What is the difference between ASIC and ASX?

Multiple-choice practice

MCQ 1. A and B call their arrangement a “joint venture”, share profits equally and jointly control major decisions. Best approach?

The label is conclusive Apply ss 5–6 and examine substance, including Canny Gabriel ASIC registration is required A written deed is essential

MCQ 2. Which provision is the starting point for a partner’s agency power to bind the firm?

Partnership Act s 8 Partnership Act s 12 Partnership Act s 15 Corporations Act s 119

MCQ 3. An ordinary contractual debt validly incurred by the firm is governed principally by:

s 12 joint liability s 15 joint and several liability s 516 Corporations Act s 588G Corporations Act

MCQ 4. ASIC is best described as:

Australia’s stock exchange A statutory regulator administering and enforcing corporations and financial-services law A private professional body A court

IRAC construction practice — Partner authority and liability

A partner places a $45,000 usual-business order despite an internal $20,000 spending restriction. The supplier had no notice of the restriction. Structure the IRAC before opening the model answer.

Issue

Rule / Law

Application

Counterargument

Conclusion

Open separate Chapter 1 teaching answers → Open Chapter 1 interactive crossword →