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Instructions 

This is a policy research paper. Not only does it need to have an issue and solution, but has to explore the opposite side of the argument. MUST HAVE MINIMUM OF 10 SOURCES. No use of encyclopedias, answer.com-type of sites, religious text, dictionary, editorials, blogs, no wiki-anything.  One inch margins, double spaced, times new roman 12 point font, no gaps between paragraphs, no more than 1/3 of the paper may be direct quotes. Works cited page that alphabetically lists 10+ works (actually cited (used) in paper.) MLA format. No header on first page or any page except last name and page number.

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Week 1 Question (10 marks) Differentiate between a sole trader, company and a partnership. Support your answer to this by citing the advantages and disadvantages of using each business structure. (10 marks) Week 2 Question (10 marks) Teresa and Alison operate a partnership making and selling jam. A reduced supply of fruit has resulted in a fall in sales. Alison purchased a large supply of glass jars that must be paid for within 30 days. The funds are not available to meet this expense. Teresa was not consulted when Alison bought the jars and insists that Alison pay for them out of her personal savings. What do you think will be the legal consequences here resulting from Teresa’s decision not to consult Alison? (10 marks) Week 3 Question (10 marks) Provide a case summary of the case “Salomon v Salomon & Co Ltd [1897]” using the IRAC method. What was the significance of this case law in relation to the legal concept of separate legal entity? (10 marks) Week 4 Question (10 marks) When can the corporate veil be lifted under the Corporations Act to make directors liable for corporate debts? (10 marks) Week 5 Question (10 marks) Provide a case summary of the case “Lee v Lee’s Air Farming Ltd [1960] UKPC 33” using the IRAC method. What legal principle came out of this case in relation to why the court lifted the corporate veil in this case?

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