Get Instant Help From 5000+ Experts For
question

Writing Get your essay and assignment written from scratch by PhD expert

Rewriting: Paraphrase or rewrite your friend's essay with similar meaning at reduced cost

Editing:Proofread your work by experts and improve grade at Lowest cost

loader
Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

Add File

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Guaranteed Higher Grade!

Assessment Of Business Case Study: Julio, Carolyn, And Trisha's Essay.

14 Pages / 3,368 Words Published On: 05-11-2020

Introduction and Definition of Business Law

business together called Finance R’Us. Their plan is to provide different types of financial advice to their clients. Julio specialises in tax advice, Carolyn has a passion for accounting and Trisha knows the ‘ins and outs’ of investment.

In order to save money, they decide to keep it simple and just write down some rules of their agreement on a serviette. They write that they agree to put equal money into the business and to share the profits equally, and that everyone will be involved in the management of the business.

Still they are a bit short on money so Julio’s sister, Sarah, is happy to come in and provide a loan of $40,000 for which she will receive 2% of the net profit over 5 years. She is only interested in helping her brother and his friends out, she is more of an artistic nature and thus not interested in the business.

They start their business, which is to provide bespoke financial services. It becomes very popular as all three are very passionate and know their finance areas well.

1) Under what type of business structure is this business running? Furthermore look at everyone who might be involved in this business, i.e. Julio, Carolyn, Trisha and Sarah and discuss their status in regards to the business. Give reasons for your answer; in particular support your answer by citing relevant cases and statutes. (10 marks) Julio advises a client, X, in writing on the tax implications of the purchase of a certain real estate property.

Unfortunately, Julio made a mistake in his advice as he was not on aware of the latest ruling by the Australian Tax Office (ATO). Because of this error, X had to pay an extra $15,000 in tax because the advice was incorrect.

2) Discuss whether Julio and/or his business partners are liable for the damages suffered by X? Please make sure that you only assess the legal risks under contract. Also support your answer by citing relevant cases and statutes.

Without the knowledge or permission of Julio, X had passed on the written tax advice to his best friend Y. Based on the advice, Y decided to purchase a property as well. Naturally Y had to pay an extra $15,000 in tax.

3) Discuss whether Julio and/or his business partners are liable for the damages suffered by Y? Please make sure that you only assess the legal risks under tort of negligent misrepresentation. Also support your answer by citing relevant cases and statutes.
 
In order to manage their business risks better, Julio, Carolyn and Trisha want to make changes to how they are operating their business.

4) What are their options? Think about whether they

• can change something in their procedure when giving written advice;
• can make their responsibilities clearer; or
• have to change their business structure.
Give reasons for your answer; in particular support your answer by citing relevant cases and statutes

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2020). Assessment Of Business Case Study: Julio, Carolyn, And Trisha's Essay.. Retrieved from https://myassignmenthelp.com/free-samples/lst5ccl-company-and-commercial-law/simultaneous-governance-of-business-and-commerce.html.

"Assessment Of Business Case Study: Julio, Carolyn, And Trisha's Essay.." My Assignment Help, 2020, https://myassignmenthelp.com/free-samples/lst5ccl-company-and-commercial-law/simultaneous-governance-of-business-and-commerce.html.

My Assignment Help (2020) Assessment Of Business Case Study: Julio, Carolyn, And Trisha's Essay. [Online]. Available from: https://myassignmenthelp.com/free-samples/lst5ccl-company-and-commercial-law/simultaneous-governance-of-business-and-commerce.html
[Accessed 01 October 2023].

My Assignment Help. 'Assessment Of Business Case Study: Julio, Carolyn, And Trisha's Essay.' (My Assignment Help, 2020) <https://myassignmenthelp.com/free-samples/lst5ccl-company-and-commercial-law/simultaneous-governance-of-business-and-commerce.html> accessed 01 October 2023.

My Assignment Help. Assessment Of Business Case Study: Julio, Carolyn, And Trisha's Essay. [Internet]. My Assignment Help. 2020 [cited 01 October 2023]. Available from: https://myassignmenthelp.com/free-samples/lst5ccl-company-and-commercial-law/simultaneous-governance-of-business-and-commerce.html.


Stuck on Any Question

Our best expert will help you with the answer of your question with best explanation.

question

Writing: Get your essay and assignment written from scratch by PhD expert

Rewriting: Paraphrase or rewrite your friend's essay with similar meaning at reduced cost

Editing: Proofread your work by experts and improve grade at Lowest cost

question
We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

loader
250 words
Error goes here

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Other Samples
icon
5% Cashback

On APP - grab it while it lasts!

Download app now (or) Scan the QR code

*Offer eligible for first 3 orders ordered through app!

screener
ribbon
callback request mobile
Have any Query?
close
Subtraction Payment required!

Only one step away from your solution of order no.